1947
 
 - The Company was incorporated on 26th April, under the name of
 Indian
 Schering, Ltd., U.K. as a subsidiary of British Schering, Ltd.
 
 1957
 
 - E. Griffiths Hughes, Ltd. of which British Schering, Ltd., U.K. 
 was
 a subsidiary was taken over by Aspro-Nicholas, Ltd., U.K.  Since
 then,
 the principal owners of the Company belonged to the Nicholas Group
 of
 Companies whose ultimate holding company, Nicholas International,
 Ltd.,
 Melbourne, Australia, are well known for their registered trade
 marks
 Aspro, Asmapax, Albucid, Olycrol, Neutradonna, etc.
 
 1978
 
 - 5,000 Bonus Equity shares issued in prop. 5:1 on 30.6.1967.
 
 1979
 
 - Nicholas of India, Ltd. transferred to the Company the business
 and
 undertaking of its Indian branch as a going concern with effect from
 1st July.  The name of the Company was changed from Indian Schering,
 Ltd. to Nicholas Laboratories India, Ltd., with effect from 27th
 September.
 
 - The non-resident holding in the Company was reduced to 39.59%
 after
 the issue and allotment of shares to the public during November.
 
 - Shares subdivided on 28.8.1979.  6,00,000 Bonus shares of Rs 10
 each
 issued in prop. 10:1 on 4.10.1979.  8,03,600 shares of Rs 10 each
 then
 issued (pre. Re.1 per share): 25,000 shares reserved and allotted to
 the existing Indian shareholders as rights; 5,12,200 shares reserved
 and allotted to financial institutions (2,62,200 shares to UTI and
 1,25,000 shares each to LIC and GIC); 40,000 shares reserved for
 allotment to employees, etc. of the Company and 2,26,400 shares
 offered
 to the public in November 1979.
 
 1984
 
 - The Company issued 15% non-convertible debentures of the aggregate
 value of Rs 50 lakhs on a private placement basis.  These debentures
 are redeemable at a premium of 5% at the end of the 7th year from
 the
 date of allotment viz., 24th June, 1985.
 
 1988
 
 - The Pharmaceutical division of the Company introduced another
 medicine called `Mono Sorbitrate' for cardiac patients.
 
 - During July-August, Aspro Nicholas PLC, U.K., voluntarily diluted
 all
 its shareholding of 5,84,760 No. of equity shares of Rs 10 each by
 an
 offer for sale at a premium of Rs 35 per share.  Out of this,
 3,62,177
 shares were sold to Swastik Safe Deposit & Investments, Ltd.  Out of
 the remaining 2,22,583 shares, 29,238 shares were reserved for
 allotment to the employees of the Company but only 8,350 share taken
 up.
 
 - The balance of 1,93,345 shares, along with the unsubscribed
 portion
 of 20,888 shares out of the employees quota, were offered to the
 Indian
 resident shareholders of the Company in the proportion 11:50 (All
 were
 taken up).
 
 1990
 
 - With effect from 1st April, Gujarat Glass Ltd. (GGL) was merged
 with
 the Company.  As per the terms of the scheme 16,50,000 No.  of
 equity
 shares of Rs 10 each of the Company were allotted to the equity
 shareholders of GGL without payment in cash in the ratio of one
 equity
 share of the Company for every two shares held in GGL.
 
 1991
 
 - During the year, the new formulation plant at Pithampur in Madhya
 Pradesh was commissioned.
 
 - The Company proposed to diversify the glass division activity into
 non-pharmaceutical field.  The new TPD borosilicate plant was
 implemented.
 
 - The Company proposed to undertake an ambitious expansion plan over
 the next two years by setting up soda lime plant of 65 TPD, relining
 and modernisation of BRS plant, doubling of the present form fill
 seal
 capacity and setting up a bulk drug plant.
 
 - 31,13,600 Bonus shares issued in prop. 1:1.
 
 1992
 
 - The Company was setting up a second formulation plant at Pithampur
 in
 Madhya Pradesh with the State-of-the-art manufacturing facilities. 
 The
 plant was commissioned in March.
 
 - During February/March the Company offered to shareholders 15,56,800
 -
 12.5% partly convertible debentures of Rs 100 each on rights basis
 in
 the ratio of 1 debenture: 4 equity shares held.  Additional 2,33,520
 debentures were allotted to retain oversubscription.
 
 - Another 77,840-12.5% partly convertible debentures of Rs 10 each
 were
 offered to the employees of the Company on an equitable basis.
 Additional 11,676 debentures were allotted to retain
 oversubscription.
 
 - Part A of Rs 50 of each debenture was to be converted into 1
 equity
 share of Rs 10 each at a premium of Rs 40 per share at the end of
 six
 months from the date of allotment.
 
 - Part B of Rs 50 of each debenture was to be redeemed at par in
 three
 annual instalments of Rs 17, Rs 17 and Rs 16 respectively at the
 expiry
 of 8th, 9th and 10th years from the date of allotment.
 
 - With effect from 2nd December, the name of the Company was changed
 from `Nicholas Laboratories, Ltd.' to `Nicholas Piramal India, Ltd.'
 
 - 18,79,836 shares allotted (prem. Rs 40 per share) in part
 conversion
 of debentures.
 
 1993
 
 - The Company entered into a joint venture agreement with Allergan
 of
 U.S.A., the leading manufacturers of Ophthalmic products.
 
 - 4,053,518 bonus equity shares issued in prop. 1:2 to the existing
 shareholders, 30,30,000 shares issued to Financial Institution at a
 price of Rs 330 per share.
 
 1994
 
 - The Company proposed to enhance manufacturing facilities at
 Pithampur
 to cater to the growing market reqirements of the Pharma Division
 notably in Generics and Exports.
 
 - A joint venture agreement was entered into with Sateliec, France
 for
 dental care products.  Also proposed to set up a joint venture
 overseas-one in southern part of Africa and the other in Vietnam. 
 
 - 22,00,000 No. of Equity shares issued at a premium of Rs 80 per
 share
 on conversion of warrants issued along with Non-convertible
 debentures.
 
 1995
 
 - The Company entered into a scheme of arrangement with Sumitra
 Pharmaceutical and Chemicals Ltd. (SPCL) Hyderabad.  Under the
 scheme
 bulk drug division of SPCL shall stand transferred and vested in the
 Company effective April.
 
 - Anand Piramal Investments, Ltd. and Swati Piramal Investments,
 Ltd.
 are subsidiaries of the Company.
  
 1996
 
 - The Company has entered into a product tie-up with F.
 Hoffman-La-Roche and Boehringer Mannheim, both leads in Pharma
 research.
 
 - The Flaconnage (Glass) Division successfully commissioned 5 MW
 captive power plant at Kosamba to insulate the division from the
 vagaries of power availability and tariff increases.
 
 - With effect from 1st April, Boehringer Mannheim India Ltd. (BMIL)
 was
 merged with company.  As per the terms of the scheme 17,73,402 No.
 of
 Equity shares of Rs 10 each of the company were allotted to the
 equity
 share holders of BMIL in the ratio of 1 equity shares of the company
 for every 2 shares held in BMIL.
 
 - With effect from 1st April, the company entered into a scheme of
 arrangement with Piramal Healthcare Ltd. (PHL).  As per the terms of
 the scheme 75,05,004 No. of equity shares of Rs 10 each of the
 company
 were allotted to the equity shareholders of PHL in the ratio of 3
 equity shares of the company for every 4 shares held by PHL.
 
 1997
 
 - The state-of-the-art 230 TPD plant for manufacture of sodaline
 containers at Jambusar near Baroda was commissioned with an
 investment
 of Rs 125 crores.
 
 - NPIL has a joint venture with Allergan, US, for eye care products;
 Scholl, UK, for foot-care products, and with Cytran, US, for
 immunological products. The company took over Jenkins Botswana, a
 formulation company based in South Africa.
 
 - Nicholas Piramal India Ltd (NPIL), the Rs.500-crore pharmaceutical
 major, has entered into a marketing agreement with Stryker
 Corporation
 of the US, for surgical and medical products.
 
 - Piramal International has been incorporated with an initial
 capital
 of Rs.359 crore for entering into pharma joint ventures abroad.
 
 - NPIL entered into an agreement with Reckitt & Colman for joint
 marketing of the latter's OTC products in India.
 
 - Nicholas Piramal India Ltd (NPIL) and Ambalal Sarabhai Enterprises
 (ASE) have entered into a 50:50 joint venture for the marketing of
 human health products of ASE's Suhrid-Geigy division.
  
 - Nicholas Piramal India Ltd (NPIL), Reckitt & Colman Plc and Reckitt
 &
 Colman of India (RCI) on October 15, announced a three-way joint
 venture for the marketing of over-the-counter (OTC) products.  NPIL
 and
 Reckitt & Colman Plc will hold 40 per cent each of the Rs.10-crore
 equity of the new company, Reckitt Piramal, and RCI, 20 per cent.
 
 - Nicholas Piramal is transferring Aspro and Lacto Calamine to the
 joint venture, while Boots will bring in Strepsils and Sweetex
 besides
 some other brands.
 
 - 10,39,410 shares allotted to shareholders of Sumitra Pharmaceutical
 &
 Chemicals Ltd. pursuant to the scheme of arrangement with the
 company.
 
 
 1998
 
 - A memorandum of understanding has been signed with a major
 European
 chemicals company to start manufacturing speciality chemicals with
 equity partnership.  The final agreement is expected to be entered
 into
 in the next four to six weeks.
 
 - Nicholas Piramal, a company built by mergers and acquisitions, has
 acquired the basic research unit of Hoechst Marion Roussel (India)
 at
 Mulund on the outskirts of Mumbai for about Rs.20 crore.
 
 - Nicholas Piramal is getting into a three-way joint venture in food
 additives, a completely new area of business for the group. 
 
 - Nicholas Piramal India Ltd (NPIL) has forged a 49:51 joint venture
 with 274-million pounds Boots Healthcare International (BHI) to
 develop
 and market consumer healthcare products in India. 
 
 - Nicholas will form a new company in which it will hold 50 per cent
 stake, with up to three foreign partners sharing the remaining
 equity.
 
 1999
 
 - Nine products were launched in the first nine months of the year
 including Recormon, Accutrend, Amexyl, Orthrobid Gel and Carvetrend.
 
 - Nicholas Piramal India Ltd (NPIL) has become the first Indian
 pharmaceutical company to join the Industrial Liaison Programme
 (ILP)
 of Massachusetts Institute of Technology (MIT), USA.
 
 - Nicholas Piramal India Ltd, the pharmaceutical major, has
 identified
 an anti-cancer molecule at its research centre for which it wants to
 file a global patent application.
  
 - Nicholas Piramal has entered into an arrangement with the UK-based
 Norton Healthcare to develop three formulations set to go off patent
 by
 2000.
 
 2000
 
 - The Company has to raise capital by way of international offering
 by
 issue of securities through ADRs/ADS, for an amount upto US$ 100
 million.
 
 - The Company has signed an agreement with the CSIR-affiliated
 Centre
 for Biochemical Technology for collaborative research in the field
 of
 gene technology.
 
 - The Company has entered into a research alliance with Hindustan
 Lever
 for developing Cosmoceuticals and personal care products.
 
 
 - The Company and Banner Pharmacaps (India) announced that they had
 signed a memorandum of understanding to manufacture several of
 NPIL's
 nutraceutical products as soft gelatin capsules.
 
 - The Company is launching a slew of new products in 2000-01 as its
 targets a sales growth of 20 per cent in the current fiscal.
 
 - The Industrial Paints Division of the company would be hived off
 into
 a separate joint venture company with an international player.
 
 - Nicholas Piramal India Ltd. (NPIL) has tied up with the Centre for
 Biochemical Technology (CBT) for conducting basic research in
 genomics.
 
 - The Company has entered into a `knowledge-based' collaboration
 with
 the Centre for Biochemical Technology for the study of genomics.
 
 - The Company acquired a 40 per cent stake in Rhone-Poulenc India
 Ltd
 -- which makes it the second largest pharmaceutical group in India.
 
 2001
 
 - Nicholas Piramal India has pulled out of its 50:50 joint venture
 with
 the UK-based Scholl Plc (now known as Seton-Scholl Healthcare Plc).
 
 - Nicholas Piramal group is close to acquire a 27.72 per cent equity
 stake in German Remedies Ltd. at a price of Rs 400-425 per share.
 
 - The Company has entered into a strategic alliance with MDIndia
 Healhtcare Services Pvt. Ltd. where NPIL will sponsor five Internet
 hub
 centres (IHCs).
 
 - Nicholas Piramal India and the Reckitt Benckinser group are
 planning
 to alter the nature of their joint venture, Reckitt Piramal.
 
 2002
 
 -ICI India transfers pharmaceuticals business to Nicholas Piramal.
 
 -The Board of Directors of Nicholas Piramal India Ltd on October 24,
 2002 considered & approved the appointment of Mr S Ramadorai as
 Director of the Company and  Dr Swati A Piramal has been re-appointed
 as Director in Wholetime employment of the company (designated as
 Director Alliances & Communications) for a period of five years.
 
 2003
 
 -NPIL introduces 10 new anti-allergic drug through newly formed
 repiratory
 division ACTIS.
 
 -NPIL is all set for an expansion abroad by setting up subsidaries in
 the lucrative US 
 and South East Asian Markets.
 
 -Nicholas Piramal India has launched 'a new generation anti-allergic'
 called 'Airitis'
 to combat allergic rhinitis in the country.
 
 -NPIL has decided to phase out its version of the drug, Orthobid and
 replace it
 with Vah ( valdecoxib), which is said to be a better drug with no
 side effects.
 
 -NPIl has entered into an agreement with the US base Minrad Inc. for
 the exclusive
 distribution and marketing of  a new generation of inhalation
 anesthetic products.
 
 -NPIL stopped the Frame Co-operation Agreement with  F Hoffman La
 Roche.
 
 -NPIL with a capital investment of Rs 4-5 cr is expanding the
 capacity of its
 Contract Research Organization(CRO).
 
 -Nicholas Piramal India Ltd has procured Rs.10 million foreign loan
 through
 External Commercial Borrowing(ECB) arranged by Rabo Bank
 International.
 
 -NPIL has informed the changes in the board of directors
 1. Mr. R A Shah, Mr. M R Shroff, and Mr.G P Goenka who were retiring
 are
 re-appointed as directors.
 2. Mr. Rajesh Khanna, Mr. Deepak Satwalekar and Mr S Ramdorai are
 appointed as directors.
 
 -Nicholas Piramal India & Advanced Medical Optics sign agreement for
 supply of products
 
 -The country's second largest pharamceutical company, Nicholas
 Piramal India Ltd (NPIL), has undergone major changes at the top
 level. Four senior officials of the company have relinquished their
 posts. They are: NPIL senior vice-president finance V Hariharan,
 president (Actis division) Sainath Iyer, vice-president (exports) SM
 Raina, and vice- president (knowledge resources) Srikumar
 Chattopadhyay. The company has already made replacements for the
 vacant posts. Rajesh Ladda has joined NPIL as the company's new
 senior vice-president (finance). Sailesh Gadre has joined as
 president (Actis division). Ananth Narayan will be the new
 vice-president (exports), while Sohail Abidi is the company's new
 vice-president (knowledge resources).
 
 2004
 
 -Nicholas forges alliance with scientists from Imperial College of
 the UK to carry out research in the field of rheumatoid arthritis
 
 -Pharma major Nicholas Piramal India Ltd (NPIL) has entered into a
 research collaboration with the Bangalore-based Indian Institute of
 Science (IISc) to identify potential new targets for developing drugs
 to treat fungal infections.
 
 - Nicholas Piramal revamps operations
 
 -Nicholas Piramal seals an In-Licensing Agreement with Genzyme
 Corporation for Indian Market
 
 -Nicholas Piramal India has set up a new research & development
 centre in Chennai that is to complement its partnership with the Anna
 University in the area of drug discovery
 
 -NPIL joins hands with NII for research on inflammation drugs
 
 -Nicholas Piramal - In-licensing Agreement with Ethypharm, France
 
 - Nicholas Piramal India Ltd's (NPIL) Wellquest, the independent
 clinical research division becomes the first Indian CRO (Clinical
 Research Organization) to receive the Statement of GCP (Good Clinical
 Practices) Compliances from the UK MHRA (Medicines & Healthcare
 Products Regulatory Agency), for clinical studies carried out to
 support the registration of generics products in the international
 regulated markets.
 
 -NPIL ties up with 7 global pharma firms
 
 2005
 
 -Nicholas Piramal acquires Avecia Pharmaceuticals, UK
 
 2006
 
 -Nicholas Piramal signs agreement to acquire Pfizer's Morpeth, UK
 Facility with potential outsourcing revenues exceeding US
 
 -Nicholas Piramal India Ltd. has informed regarding a press release
 dated November 17,2006, titled BioSyntech signs scientific
 collaboration agreement with Nicholas Piramal.
 
 -Nicholas Piramal - Acquisition of Pfizer’s Morpeth UK facility
 
 -Nicholas Piramal - BioSyntech signs scientific collaboration
 agreement with the Company
 
 2007
 
 -Nicholas Piramal India Ltd and Napo Pharmaceuticals, Inc on January
 22, 2007 announced that they have entered into a Plant Screening
 Agreement to discover novel diabetes therapeutic agents.
 
 - Nicholas Piramal has spun off its new chemical entity and herbal
 drug research division into a stand-alone company with plans to list
 it on the stock exchanges.
 
 - Nicholas Piramal India Ltd has forayed into a 49:51 joint-venture
 with Japan-based Arkray Inc to market diagnostic products.
 
 2008
 
 - Company name has been changed from Nicholas Piramal India Ltd to
 Piramal Healthcare Ltd.
 
 -Nicholas Piramal acquires Anafortan & CEFI Brand Groups from
 Khandelwal Laboratories Pvt Ltd
 
 -Piramal Healthcare Ltd to acquire Minrad International, Inc.
 
 -Nicholas Piramal - Piramal Group announces launch of new corporate
 identity
 
 2009
 
 -Piramal Healthcare - Acquisition of U.S. Inhalation Anesthetic Gas
 Distribution Business of RxElite Inc
 
 -Piramal to foray into Phytopharma 
 
 -Piramal Healthcare launches BioElectronic`s ActiPatch