• For the first time in the company’s history, revenue from innovative pharmaceutical programs exceeded revenue from generic drug programs
• The share of innovation revenue in total revenue increased from 35% in FY19 to more than 50% in FY24
• 20% annual growth rate for innovative work far exceeds the benchmark for the overall CDMO business
Piramal Pharma Solutions (PPS), a leading contract development and manufacturing organization (CDMO) and part of Piramal Pharma Ltd. (NSE: PPLPHARMA) (BSE: 543635), today announced that for the first time in the company’s history, revenue from innovation programs exceeded revenue from generic projects.
Over the last five years, the share of innovation revenue in total revenue has increased from 35% to over 50%, representing an average annual growth rate of 20%. The 50% figure refers to work performed for innovative pharmaceutical clients in the areas of discovery, development and patent-protected commercial manufacturing. It includes projects from preclinical development through phases I, II and III. This growth far exceeds the annual growth rate of Piramal Pharma’s overall CDMO business.
Peter DeYoung, Managing Director, Piramal Pharma Solutions, , said, “Reaching this threshold is an important milestone in the history of Piramal Pharma Solutions. For many years, our organizational strategies and tactics have focused on building the expertise and capabilities needed to fully support the work of innovators. This breakthrough validates our efforts and secures our position as an innovative CDMO supporting customers in their quest to bring new, patient-focused medicines to regulated markets around the world.”
The growth in innovation revenue is in line with Piramal Pharma’s success in providing high-quality services including High Potency Active Pharmaceutical Ingredients (HPAPIs), Antibody-Drug Conjugations, Peptide APIs, Sterile Fill/Finish and integrated programs working on more than one of the company’s fifteen global locations. Integrated programs provide customers with compelling benefits such as faster time to market, simplified operations and lower supply chain costs. Piramal Pharma Solutions has successfully executed more than 125 integrated programs to date and many more are currently in progress.
Information about Piramal Pharma Solutions
Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) that provides end-to-end development and manufacturing solutions for the entire drug life cycle. We serve our customers through a globally integrated network of locations in North America, Europe and Asia. This enables us to offer a comprehensive range of services including drug discovery solutions, process and pharmaceutical development services, clinical trial supplies, commercial supply of API and finished dosage forms. We also offer specialized services such as development and manufacturing of high potency APIs, antibody drug conjugates, sterile fill/finish, peptide products and services, and potent solid oral pharmaceuticals. PPS also provides development and manufacturing services for biologics, including vaccines, gene therapies and monoclonal antibodies, made possible by Piramal Pharma Limited’s investment in Yapan Bio Private Limited.
For more information, see: www.piramalpharmasolutions.com | LinkedIn| Facebook | X
Information about Piramal Pharma Ltd.
Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17* global development and manufacturing facilities and global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing company, Piramal Critical Care (PCC), a complex hospital generics business, and the Indian Consumer Healthcare business, which sells over-the-counter consumer and wellness products. Additionally, one of PPL’s affiliates, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has established itself as one of the ophthalmology leaders in the Indian pharmaceutical market. PPL also holds a strategic minority stake in Yapan Bio Private Limited, which operates in the biologics/biotherapeutics and vaccines segments. In October 2020, PPL received a 20% strategic growth investment from Carlyle Group.
For more information, see: Piramal Pharma | LinkedIn
* Includes an appendix regarding PPL’s minority interest in Yapan Bio.
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