Piramal sells healthcare analytics subsidiary DRG to Clarivate for $950 mn

Piramal Enterprises Ltd (PEL) on Friday said that it would sell its healthcare insights and analytics business Decision Resources Group (DRG) to Nasdaq listed Clarivate Analytics for $950 mn. 

The company said it was a strategic investment for PEL and it decided to sell as it saw good value for its shareholders. The sale value is roughly five times the annual sales of DRG. 

Ajay Piramal, chairman of Piramal Group said, "At PEL we have always felt that we should do what is in the best interest of the shareholders. When we got this valuation of 5x of sales we