Bilcare acquires clinical trial svcs firm 'DHP'

Mumbai, Sept 19: Bilcare Ltd has acquired DHP Ltd, a UK-based Clinical Trials Services provider for a total consideration of US$ 5 million, a rupee equivalent of 23 crore.

Announcing this, the company told BSE that the UK company had service revenue of US$ 3 million (Rs 14 crore) for the year ended March 31, 2006. The entire paid-up Equity Capital of DHP has been acquired through Bilcare (UK) Ltd, a wholly owned subsidiary of Bilcare Singapore Pte. Ltd.

Commenting on the acquisition in UK, Mr. Mohan Bhandari, the Chairman&Managing Director of the company said, ''Bilcare has been successful in living upto its commitment of providing a truly world-wide operations network to the global pharmaceutical sector and partner with them in enhancing their speed to market by best in class local management of their global clinical trials.'' The Company's focused ambition to be the leader in Clinical Trial Services was initiated with the establishment of a state-of-the-art CTS facility in India in early 2005. It almost simultaneously expanded its global reach through the acquisition of an established clinical trials business in the USA in the Quarter III of 2005.

The USA acquisition was welcomed by the pharma industry leading to the Company's getting recognition as their value partner.

DHP Ltd has its operations in Powys, UK and is an independent Company with over 15 years of dedicated comprehensive service to the global pharmaceutical sector in the area of Clinical Trials Service.

UNI