Piramal Pharma Limited to acquire a 100% stake in Hemmo Pharmaceuticals Pvt. Ltd. for an upfront consideration of Rs.775 crores and earn-outs linked to achievement of milestones. Consequent to this acquisition, Hemmo will become a wholly owned subsidiary of Piramal Pharma.
Piramal Pharma Limited:
Piramal Pharma Limited is a subsidiary of Piramal Enterprises Limited and is headquartered in Mumbai. It offers a portfolio of products and services through manufacturing capabilities across 14 global facilities and a global distribution network in over 100 countries. In October PPL has received 20% growth investment from Carlyle Group.
Hemmo Pharmaceuticals Pvt. Ltd.:
Hemmo Pharmaceuticals Pvt. Ltd. is a manufacturer of Peptide-based pharmaceuticals. Its portfolio covers 30+ APIs including generic peptides, peptide NCEs and peptides in clinical development which it offers to pharma and research companies in both domestic and global markets. Its manufacturing facility located at Turbhe is certified by the USFDA, EDQM and WHO and its R&D facility located at Thane. Hemmo’s turnover in FY 19-20 was Rs. 85 Crore.
This acquisition marks Piramal Pharma’s foray into the development and manufacturing of peptide APIs, a capability that complements its existing service offering. Peptide is a compound of two or more amino acids and manufacturing it is complex. Peptide APIs 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.
Hemmo is one of key manufacturers of synthetic peptides with a legacy of more than thirty-eight years in business supplying peptide products and custom peptide synthesis. Hemmo has expertise in both solution phase and solid phase synthesis of peptides.
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