07:25 AM | April 5, 2021 | Kartik Kohli
Piramal Pharama Solutions (PPS) says that its affiliate Piramal Pharma Ltd., a contract development and manufacturing organization (CDMO) service provider, has acquired Hemmo Pharmaceuticals (Mumbai). The cost of the transaction is 7.75 billion Indian rupees ($105.38 million). Hemmo is a producer of peptide active pharmaceutical ingredients (APIs).
Piramal says that the acquisition will add peptide API manufacturing capabilities. Peptide drugs are growing significantly in oncology and metabolic therapies.
Piramal says that Hemmo has R&D capabilities and a good manufacturing practice (GMP) manufacturing facility that has been inspected and deemed compliant by the US, EU, and Asian regulatory agencies. The company has “expertise in both solution-phase and solid-phase synthesis of peptides.”
The acquisition is expected to add more than 250 employees to PPS, including several scientists and a quality team of more than 60 staff. The acquisition agreement is subject to customary regulatory closing conditions.