Nicholas Piramal, Roche end India pact

By siliconindia staff writer   |   Thursday, 21 October 2004, 07:00 Hrs
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MUMBAI: Nicholas Piramal India Ltd and Germany's Roche Diagnostis GmbH have agreed to end an agreement allowing the local firm to exclusively distribute Roche's diagnostic and patient care products in India.
A notice on the Bombay Stock Exchange Web site www.bseindia.com said Roche Diagnostics will take over the distribution of the products in India from January 1, 2005.

It also said Roche would pay Nicholas Piramal $22 million by January 2005 for ending the agreement and would take over the Indian company's field workers for the products.



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