Fully developed turbulent flow of drag reducing fluids through a horizontal flow loop with concentric annular geometry was investigated using the particle image velocimetry (PIV) technique. Experiments were conducted at solvent Reynolds numbers ranged from 38,700 to 56,400. Axial mean velocity profile was found to be following the universal wall law close to the wall (i.e., y+ < 10), but it deviated from log law results with an increased slope in the logarithmic zone (i.e., y+ > 30). The study was also focused on turbulence statistics such as near wall Reynolds stress distribution, axial and radial velocity fluctuations, vorticity and turbulent kinetic energy budget.