INDIA'S NICHOLAS PIRAMAL BUYS UK'S AVECIA PHARMA

Indian drug maker Nicholas Piramal India Ltd. <NICH.BO> said on Thursday it had acquired Britain's Avecia Pharmaceuticals for 9.5 million pounds ($17 million).

It said the UK company had revenue of 36.1 million pounds in 2004. Avecia, which provides chemical synthesis and manufacturing services to multinational drug innovators, is part of the Avecia Group acquired from AstraZeneca Plc by private equity funds in 1999.

HindustanTimes.com (http://www.hindustantimes.com/news/5983_1530742,00430004.htm)