Piramal Pharma to invest Rs1,200 in UK over the next 12 to 18 months

25 Oct 2022 , 03:02 PM

Through a combination of organic growth and acquisitions in the sectors of contract development & manufacturing services (CDMO) and complicated generics, Piramal Pharma stated that it would concentrate on scaling up its operations and increasing its margins.

On October 19, its shares were listed on stock exchanges. In a recent interview with ET, Piramal Pharma chair Nandini Piramal stated that the business would invest Rs1,200 crore in antibody-drug conjugate capacity at Grangemouth, the UK, over the course of the following 12 to 18 months.

In addition to increasing capacity at its API facilities in India and for potent injectables at Lexington in the US, it is also looking to increase capacity at Riverview in the US for active pharmaceutical ingredients.

Despite immediate difficulties including fluctuating exchange rates, inflation, and energy prices, she claimed that there was still a high demand for CDMO services. Piramal claimed that the third sector, consumer health, was currently focusing on organic growth.

In October 2020, US private equity firm Carlyle Group invested $360 million in Piramal Pharma in exchange for a 20% stake. Piramal Pharma includes Piramal Pharma Solutions (PPS), a contract development and manufacturing company that generates three-fifths of its income. Piramal Critical Care (PCC), a sophisticated hospital generics company, generates 30% of the company’s revenue, with the remaining 80% coming from the over-the-counter drug market in India.

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