Piramal Pharma Solutions (PPS), the contract development and manufacturing organisation (CDMO) arm of the diversified Piramal Enterprises Ltd (PEL), has acquired a solid oral dosage drug manufacturing facility from the US-based G&W Laboratories, Inc.
The transaction will see PEL fully acquire the firm that operates the facility in Pennsylvania’s Sellersville. It will help expand PPS’s product offerings by adding solid oral dosage capabilities such as tablets and capsules, Piramal said in a statement.
However, the company did not disclose the financial details of the transaction.
“Many of our customers are looking for US-based manufacturing partners to expand and support their pipeline. This acquisition strengthens our ability to partner with them on best-in-class drug products,” DeYoung, CEO at PPS, said.
The site in Sellersville, which covers 31.5 acres, includes dedicated manufacturing and packaging technologies for solid oral dosage forms, liquids, creams, and ointments. It also has facilities for quality control and microbiology, and pre-formulation and analytical development infrastructure.
PPS, which has operations in North America, Europe and Asia, provides services including drug discovery solutions, process and pharmaceutical development services, clinical trial supplies and the commercial supply of active pharmaceutical ingredients (APIs).
Shares of PEL were trading 2.14% up at Rs 1,188.85 apiece at the time of writing this report.
According to VCCEdge, the data research arm of Mosaic Digital, the company reported consolidated net sales of Rs 13,968.29 crore for the 2020 financial year. However, it reported a loss of Rs 1,042.87 crore for the same period.
Last month, reports suggested that private equity firm TA Associates was in advanced talks to acquire up to 20% stake in Piramal Pharma for up to $500 million. While PEL was reportedly seeking to reach an agreement by sometime this month, no formal announcement has yet been made.
KKR & Co. was earlier competing with TA Associates for the stake, according to the reports.
