Piramal Pharma to buy API maker Hemmo Pharma

Piramal Pharma Solutions (PPS), the Contract Development and Manufacturing Organization (CDMO) of Piramal Pharma Limited, will purchase API producer Hemmo Pharmaceuticals for Rs 775 crore. With this acquisition, PPS will enter into the event and manufacturing of peptide APIs, as Hemmo is likely one of the few pure-play artificial peptide API producers within the world market, stated an organization assertion.

“Hemmo’s employees and customers have been core to the business and I strongly believe, will benefit from PPS’ expertise in providing integrated services globally,” stated Madhu Utamsingh, Promoter and Managing Director of Hemmo. The acquisition is predicted to add greater than two-hundred and fifty workers to PPS.

“Hemmo has demonstrated excellence and a great quality track record with a differentiated and hard to replicate capability,” stated Nandini Piramal, Chairperson, Piramal Pharma Limited. Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) providing end-to-end improvement and manufacturing options throughout the drug life cycle. It gives a variety of companies together with drug discovery options, course of & pharmaceutical improvement companies, scientific trial provides, business provide of APIs and completed dosage kinds.

Piramal Pharma Limited contains Piramal Pharma Solutions, Piramal Critical Care – a posh hospital generics enterprise; and the Consumer Healthcare enterprise, promoting over-the-counter merchandise in India. In October 2020, PPL acquired 20% strategic progress funding from the Carlyle Group.

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