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Will purchase Hemmo Pharmaceuticals, one of India's largest producers of synthetic peptides
Piramal Pharma Limited (PPL) has entered into an agreement to acquire a 100% stake in Hemmo Pharmaceuticals Pvt. Ltd., an Indian manufacturer of synthetic peptide APIs (active pharmaceutical ingredients), for an upfront consideration of about $105.8 million and additional earnings if certain milestones are achieved.
This acquisition allows Piramal Pharma Solutions (PPS)—PPL’s contract development and manufacturing organization (CDMO)—to join the peptide API space, as a supplement to PPS’ existing service offerings, alongside PPL’s integrated drug substance and drug product selection. Further, the deal is expected to bring more than 250 employees onboard to PPS.
Hemmo has been in business for over 38 years, with R&D capabilities and a GMP (good manufacturing practice) manufacturing facility that has been inspected and deemed compliant by US, EU and Asian regulatory agencies.