Piramal Pharma limited’s (PPL) declared that they have signed an agreement to purchase a 100 percent stake in Hemmo Pharmaceuticals Pvt Ltd. (Hemmo) for a direct consideration of Rs 775 crores and earn-outs linked to the accomplishment of milestones.
While PPS aims to expand its capabilities and position as a leading Contract Development and Manufacturing Organization (CDMO), this attainment marks PPS’ entry into the development and manufacturing of peptide APIs, a capability
that complements PPS’s existing service offering.
Hemmo is one of India’s largest manufacturers of synthetic peptides and is in business for more than thirty-eight years, supplying peptide products and custom peptide synthesis. With this agreement, PPS will gain access to the growing peptide API market and enhance its ability to present integrated services to its customers globally.
Nandini Piramal, Chairperson, PPL said, “Hemmo has presented excellent and quality track record with a specialized and hard to replicate capability. With this agreement, this is the third Pharma acquisition this fiscal year and example of a distinctive offering to attract and delight customers, and of the implementation of our profitable growth strategy.”
The usage of peptide drugs has increased in the past decade, in oncology, treatment of diabetes, and obesity. Growth in orphan drugs and therapies for rare diseases has increased the demand for peptides. More than 250 employees are expected to be added to PPS due to the acquisition, including several scientists.
