Glaxo eyeing Piramal’s formulation business?

The spectre of acquisition looms large on the local pharma horizon again. After Ranbaxy Labs in 2008 and Shantha Biotech in 2009, it may be the turn of Piramal Healthcare to pass into a multinational pharma company’s fold, the buzz on the street suggests.

According to industry sources, Piramal Healthcare is looking to sell its domestic formulations business and British behemoth GSK is a likely buyer.Piramal officials could not be reached for comment. GSK said it did not comment o…