Piramal Pharma to acquire Hemmo pharma 100% stake for Rs 775 crore
By – Sanjay Kumar
- Piramal Pharma 3rd acquisition in FY21 signed an agreement to purchase a 100% stake of Hemmo Pharmaceuticals for ₹775 crore
- PPS would gain access to lengthen the peptide API market and enhance its ability.
- Hemmo Pharmaceuticals would be a wholly-owned subsidiary of PPL.
Piramal Pharma Solutions (PPS) is the contract-based development and manufacturing firm (CDMO) of Piramal Pharma Ltd (PPL). The company made 3rd acquisition in this fiscal year as it signed an agreement to purchase a total stake of Hemmo Pharmaceuticals Pvt. Ltd for ₹775 crores, the company said in a statement.
The FY21 acquisition marks Piramal Pharma Ltd (PPL) contract development and manufacturing organization, Piramal Pharma Solutions’ (PPS’) foray into the manufacturing and development of peptide Active Pharmaceutical Ingredient (API), an ability that complements PPS’ well-being service offering, Piramal said.
Hemmo’s has great capabilities, Piramal Pharma Solutions (PPS) will get access to the growing peptide Active Pharmaceutical Ingredient (API) market and increasing its ability worldwide to provide integrated services to customers, Piramal chairperson Nandini Piramal said.
This is the 3rd acquisition in this fiscal year, and again set an example of the implementation of our profitable growth strategy.
In the past decade, peptide drug is a unique class of pharmaceutical compounds that have seen increased use in oncology, treatment of diabetes, and obesity. Therapies for rare diseases and orphan drugs boosted the demand for peptides. The acquisition is featured around 250 employees to Piramal Pharma Solutions (PPS), including several scientists.
PPS is the development and manufacturing contract-based firm of Piramal Enterprises Limited with operations in Europe, North America, and Asia.
If we look back in history, in 1988, the Piramal Group build-up its foray into the Pharmaceutical market with the acquisition of Nicholas Laboratories, an Australian corporation which was later changed to Nicholas Piramal India Limited (NPIL) and later renamed as Piramal Healthcare Limited in 2008.
Piramal Healthcare Limited changed its name to Piramal Enterprises Limited in 2012. Today, the company is ranked amongst the Top 10 Indian Pharma Companies.