Piramal Pharma limited’s (PPL) contract development and Manufacturing Organization (CDMO), Piramal Pharama Solutions (PPS), declared today that PPL has entered into an agreement to attain a 100 per cent stake in Hemmo Pharmaceuticals Pvt Ltd. (Hemmo) for a direct consideration of Rs 775 crores and earn-outs linked to accomplishment of milestones.
While PPS maintains to expand and grow its capabilities and positon as a leading CDMO, this attainment marks PPS’ foray into the development and manufacturing of peptide APIs, a capability
that complements PPS’ existing service offering.
Hemmo is one of the few pure-play synthetic peptide API manufacturers in the global marketplace. Addition to Hemmo’s capabilities, PPS will gain access to the growing peptide API market and enhance its ability to present integrated services to its customers globally.
Hemmo is one of India’s largest manufacturers of synthetic peptides with a legacy of more than thirty-eight years in business supplying peptide products and custom peptide synthesis. Hemmo has R&D capabilities and a world-class GMP manufacturing facility that has been examined and deemed compliant by US, EU, and Asian regulatory agencies. The firm has strong expertise in both solution phase and solid phase synthesis of peptides.
“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. This is the third Pharma acquisition this fiscal year, and yet another example of the implementation of our profitable growth strategy,” said Nandini Piramal, Chairperson, Piramal pharma Limited.
