Piramal Pharma Invests $90M to Expand Facilities in the USA
Piramal Pharma's Major Expansion Investment in the USA
Piramal Pharma Limited (NSE: PPLPHARMA, BSE: 543635), a prominent player in the pharmaceutical industry, has announced its exciting plans to invest $90 million in expanding two of its key facilities in the United States. This expansion is a response to the overwhelming demand from customers and underscores an ongoing trend toward domestic production of essential drugs. Through these enhancements, the company aims to strengthen its position as a leader in innovation and service delivery in the biopharmaceutical sector.
Transformative Facility Upgrades
At the Lexington facility in Kentucky, Piramal Pharma is enhancing its capabilities by adding commercial-scale sterile injectables. This ambitious project involves the construction of a substantial 24,000 square foot area dedicated to the manufacturing of injectable drug products, along with a new laboratory. Key features of this expansion will include a state-of-the-art filling line, two commercial-size lyophilizers for better efficiency, a specialized capping machine, and an external vial washer. These upgrades will ensure the facility meets the increasing demands of clients and is anticipated to be operational by late 2027.
Strategic Expansion in Riverview
Similarly, the Riverview site in Michigan, well-known for its leadership in developing active pharmaceutical ingredients (APIs) and high potency APIs (HPAPIs), will be adding a significant new suite dedicated to payload-linkers. This expansion focuses on the development and manufacturing aspects of these cutting-edge materials which are pivotal in creating antibody-drug conjugates (ADCs) and other bioconjugate therapies. With completion expected by the end of 2025, this upgrade will enhance Piramal's already robust capabilities in drug development.
Synergistic Benefits of the Expansion
These expansions are not just about increasing production capacities; they are directly linked to enhancing Piramal Pharma's integrated ADC development program, branded as ADCelerate™. This program is set to streamline the development of biopharmaceuticals by reducing the timeframes from project initiation to GMP drug products to approximately 12 months without compromising quality. These advancements solidify Piramal Pharma’s reputation as a dependable partner for biologic manufacturing at a global level.
Commitment to the U.S. Market
Peter DeYoung, the Chief Executive Officer of Piramal Global Pharma, remarked on the company’s dedication to the US market. "Since our journey began, we have committed approximately $570 million toward our drug development and manufacturing capabilities in the United States. This market represents our largest segment where we employ around 750 talented individuals. Our ongoing investments demonstrate a firm commitment to our clients who value domestic, high-quality offerings."
Benefits for Patients and Healthcare
Piramal Pharma is a patient-focused organization, reflecting its commitment to alleviating the burden of disease. By enhancing the capabilities in both locations, the company is positioning itself to better support rapidly growing drug development sectors. The addition of payload-linkers is essential for many oncology drugs, while the sterile fill/finish process is critical in the final stages of drug production. Ultimately, these efforts will lead to quicker delivery of innovative treatments to patients in need.
About Piramal Pharma Limited:
Piramal Pharma Limited (PPL, NSE: PPLPHARMA, BSE: 543635) operates a diverse array of products and services through its extensive network of 17 global facilities. The company specializes in contract development and manufacturing, hospital generics, and over-the-counter consumer products. A notable collaborative venture includes Abbvie Therapeutics India Private Limited, which has emerged as a strong contender in the ophthalmology therapy market in India. Additionally, Piramal Pharma holds a strategic investment in Yapan Bio Private Limited, focused on biologics and vaccines.
Frequently Asked Questions
What is the purpose of Piramal Pharma's $90 million investment?
The investment aims to expand two key facilities in the U.S. to better meet growing customer demand and enhance drug manufacturing capabilities.
Where are the new expansions taking place?
The expansions are occurring at Piramal Pharma's facilities in Lexington, Kentucky, and Riverview, Michigan.
What specific upgrades will the Lexington facility receive?
The Lexington facility will add a 24,000 square foot manufacturing space, a new filling line, two lyophilizers, and more.
When is the Riverview facility expansion expected to be operational?
The new payload-linker suite at the Riverview site is expected to be operational by the end of 2025.
How does this expansion benefit patients?
This expansion will speed up the development and availability of innovative treatments, especially in oncology, thus supporting better patient care.
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