Singapore firm invests Rs 155 cr in Indiabulls' pharma business

Singapore-based investment firm Clermont Group has invested Rs 155 crore in Indiabulls Group's pharmaceutical business. Indiabulls Group, which has interests in real estate and housing finance, had set up a pharmaceutical sales and distributions firm last year. 

"We began sales in May and in six months we have done a turnover of around Rs 70 crore. We have products across therapies and  our focus is on domestic market. We will use the fresh capital to grow our business," said Nikhil Chari, CEO of Indiabulls Pharmaceuticals. 

The company does not have its own manufacturing unit and outsources products.