Piramal Pharma acquires peptide drug maker Hemmo for Rs 775 crore

Ajay Piramal-led Piramal Pharma Limited's (PPL) Contract Development and Manufacturing Organization (CDMO), Piramal Pharma Solutions (PPS), has fully acquired peptide manufacturer Hemmo Pharmaceuticals for Rs 775 crore.

The acquisition will help PPL, a leading contract manufacturer for global companies, an entry into peptide product making. Mumbai-based Hemmo Pharmaceuticals, founded by late J. Hemrajani in 1979, develops and manufactures over 30 generic peptide active pharmaceutical ingredients (API)s, peptide NCEs and peptides in clinical development, which it offers to pharma and research companies in both domestic and global markets.

Hemmo is one of the few pure-play synthetic peptide API manufacturers in the global marketplace. It has R&D capabilities and a world-class GMP manufacturing facility at Thurbhe in Navi Mumbai. The acquisition is expected to add more than two-hundred and fifty employees to PPS, including several PhD scientists and a Quality team of more than sixty.

"During the past decade, peptide drugs have seen increased use in oncology, treatment of diabetes and obesity. The growth in therapies for rare diseases and orphan drugs has also increased the need for peptides", said Peter DeYoung, CEO, Pharma Solutions. According to Madhu Utamsingh, Promoter and Managing Director of Hemmo, PPS is an ideal partner to take the business through its next phase of growth. "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.

Also Read: Cabinet approves Rs 10,900 crore PLI scheme for food processing industry

Also Read: Pakistan approves import of cotton, yarn from India

Also Read: Russia registers world's first COVID-19 vaccine for cats, dogs