Piramal Life Sciences Limited (PLSL) is an independent research-driven drug company that was recently demerged from Piramal Healthcare Limited (Formerly know as Nicholas Piramal India Limited). PLSL was formerly the NCE R&D division of NPIL. PLSL has state-of-the-art R&D laboratories built over 200,000 square-feet of space in Mumbai, India and over 300 scientists engaged in drug discovery and development.

PLSL is focused on four therapeutic areas - Cancer, Diabetes, Inflammation and Infectious Diseases. The Company has a pipeline of fourteen compounds, including four in clinical trials. PLSL's lead chemical compound, a Cdk-4 inhibitor, has completed two phase studies and is being tested in another Phase I/II trials for Multiple Myeloma. PLSL has drug discovery and developments agreements with Eli Lilly & Company and Merck & Company, two of the leading pharmaceuticals companies in the world.

PLSL has been listed on the National Stock Exchange and the Bombay Stock Exchange in June 2008.