Piramal Healthcare to buy Decision Resources Group

India's leading drug maker Piramal Healthcare is all set to buy the US-based healthcare data provider Decision Resources Group (DRG) for $635 million to boost research and development (R&D) portfolio.

The move came a month after the Mumbai-based Piramal acquired the new molecules division of Germany's Bayer's. The firm had been looking forward to expand its R&D portfolio after its formulations business was sold to the Abbott Laboratories, a US-based company, for $3.72 billion in 2010.

The company will acquire the Decision Resources Group (DRG), which is based in Burlington, Massachusetts, by the end of June 30. The acquisition is expected to increase the revenue up to $160 million in 2012.

Sources said that Piramal is focusing on the R&D and high-value patents. However, it will not exit the pharmaceutical sector. The DRG, which provides healthcare date to global healthcare firms for their R&D projects, is growing 20% a year and it has 48 out of 50 top global pharmaceutical companies as clients.