Piramal Pharma (PPL), a subsidiary of Piramal Enterprises, has agreed to acquire 100% stake in Indian peptide APIs manufacturer Hemmo Pharmaceuticals, for $105.6m (INR7.75bn).
Upon completion of the deal, Hemmo will become part of PPL’s contract development and manufacturing organisation (CDMO), Piramal Pharma Solutions (PPS).
Founded in 1979 by Hemrajani, Hemmo develops and manufactures peptide APIs and its portfolio includes more than 30 APIs including generic peptides, peptide NCEs and peptides in clinical development.
Through this transaction, which is subject to customary regulatory closing conditions, PPS will gain access to peptide API market and enhance its ability to offer integrated services to its customers across the world.
PPL Pharma Solutions CEO Peter DeYoung said: “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.
“This acquisition enhances our ability to provide integrated solutions that our customers need and further expands ways in which we can help reduce the burden of disease on patients.”
Hemmo has a manufacturing facility in Turbhe, which is certified by the US Food and Drug Administration (USFDA), European Directorate for the Quality of Medicines (EDQM), World Health Organization (WHO) and other international regulatory agencies.
It also has an R&D facility in Thane that focuses on process development as well as a GMP manufacturing facility.
PPL chairperson Nandini Piramal said: “This is the third Pharma acquisition this fiscal year, and yet another example of the implementation of our profitable growth strategy.”