Piramal Pharma Limited (PPL) announced an investment of INR101.77 cr in Yapan Bio Pvt Ltd (Yapan) of Hyderabad, India, augmenting the capabilities of its Contract Development and Manufacturing Organization (CDMO) business, Piramal Pharma Solutions (PPS).
PPL holds 27.78% equity stake in the company as a result of this investment, according to the statement.
As PPS continues to strengthen its capabilities and position itself as a leading CDMO, this acquisition marks a significant addition to PPS’ global capabilities in the development and manufacturing of large molecules for human clinical trials, the statement said.
Nandini Piramal, Chairperson, Piramal Pharma Limited, said, “The expertise found at Yapan will help Piramal provide existing customers with wider capabilities for developing and manufacturing large molecules. This investment further supports our growth strategy for Piramal Pharma.”
Peter DeYoung, CEO, Pharma Solutions, Piramal Pharma Limited, said, “During the past decade, biologics and their accompanying development services are the fastest growing segments of the CDMO market. This investment, coupled with the market-leading capabilities of our Grangemouth, UK site in antibody drug conjugations and our sterile fill/finish capabilities in Lexington, USA, demonstrates our commitment to growing our service offerings in the large molecule CDMO space.”
Atin Tomar and Nirav Desai, CEO and COO of Yapan, said, “We are very excited about this transaction and are confident that PPS is the ideal partner to take the business through its next phase of growth. Yapan’s employees and customers, who are the core stakeholders of our business, will most assuredly benefit from PPS’ expertise in providing integrated services on a global scale.”
Trilegal served as legal advisors to PPL on this transaction. Torreya Partners India LLP served as financial advisor and Samisti Legal LLP served as legal advisors to Yapan on this transaction.
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