Company Watch

Bilcare buys clinical trial services company

Our News Bureau - Mumbai

Bilcare has acquired DHP, a UK-based clinical trials services provider. The acquisition was done through Bilcare (UK) for a total consideration of $5 million (Rs 23 crore). DHP had service revenue of $3 million (Rs 14 crore) for the year ended March 31, 2006. "Bilcare has been successful in living up to its commitment of providing a truly worldwide operations network to the global pharmaceutical sector and partner with them in enhancing their speed to market," said Mohan Bhandari, Chairman and Managing Director of Bilcare. With this acquisition, Bilcare completes a full circle in establishing its global clinical trial services. With the intent of evolving itself into a lifesciences knowledge partner matrix, Bilcare channelled its research and innovations competencies in meeting its first phase objective of establishing a truly global capability in one of the most critical activities in the pharma value chain—clinical trials services (CTS).