Tuesday, April 19, 2022

Piramal Pharma Solutions to acquire peptide API-maker Hemmo Pharmaceuticals – ET HealthWorld

Piramal Pharma Solutions (PPS), the contract development and manufacturing organisation of Piramal Pharma Ltd on Wednesday announced that it has entered into an agreement to acquire 100 per cent stake in Hemmo Pharmaceuticals Pvt Ltd for an upfront consideration of ₹775 crore.

This is Piramal’s third pharma acquisition in FY 20-21 and will add peptide API development and manufacturing capabilities to Piramal Pharma Solutions CDMO business.

Hemmo Pharmaceuticals is a peptide API and synthetic peptides manufacturer with a legacy of more than 38 years in the business. It has R&D capabilities and GMP manufacturing facility that has been inspected and deemed compliant by the US FDA, EU and Asian regulatory agencies.

“Hemmo has demonstrated excellence and a great quality track record with a differentiated and hard to replicate capability. Once welcomed into the PPL family, it will be another example of a distinctive offering to attract and delight customers,” said Piramal Pharma Limited chairperson Nandini Piramal.

Peptide drugs are growing significantly in oncology and metabolic therapies, global peptide API market is at about $2 billion, and is growing at 6 to 8 per cent year-on-year. During the past decade peptide has have seen increased use in oncology, and the treatment of diabetes and obesity.

“Peptide manufacturing is a differentiated capability which PPS was looking to add…This is a very critical tool in our integrated drug substance and drug product offering,” she further added.

The acquisition is expected to add more than 250 employees to PPS, including several PhD scientists and a quality team of more than 60 personnel.

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