2024-07-31 18:32:38
• For the first time in the company’s history, revenue from innovative drug programs exceeds revenue from generic drug programs
• Innovation revenue as a share of total revenue increases from 35% in FY2019 to over 50% in FY2024
• The 20% annual growth rate of innovation efforts far exceeds the benchmark for the entire CDMO business
Piramal Pharma Solutions (PPS) is a leading Contract Development and Manufacturing Organization (CDMO), part of Piramal Pharma Ltd. (NSE: PPPLPHARMA) (BSE: 543635) today announced that for the first time in the company’s history, revenue from innovative programs exceeded revenue from generics programs.
In the past five years, the proportion of innovation revenue in total revenue has increased from 35% to more than 50%, with an average annual growth of 20%. The 50% figure refers to work done in discovery, development and patent-protected commercial manufacturing for innovative pharmaceutical clients. It includes projects from preclinical development through Phase 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. Over the years, our organizational strategy and tactics have been focused on developing the expertise and capabilities required to comprehensively support the work of innovators. This breakthrough validates Our efforts and solidify our position as an innovative CDMO supporting clients seeking to introduce new, patient-focused medicines into regulated markets around the world.
The growth in innovation revenue is consistent with Piramal Pharma’s success in providing high-quality services including High Potency Active Pharmaceutical Ingredients (HPAPI), Antibody Drug Conjugates, Peptide APIs, Sterile Fill/Finish and dedication to multiple areas The integrated project company has fifteen branches around the world. The integration program offers customers compelling advantages such as faster time to market, streamlined operations and lower supply chain costs. Piramal Pharma Solutions has successfully executed over 125 integrated projects to date with many more projects in progress.
Information about Piramal Pharmaceutical Solutions
Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) providing end-to-end development and manufacturing solutions for the entire drug life cycle. We serve customers through an integrated global network in North America, Europe and Asia. This enables us to offer a comprehensive range of services including drug discovery solutions, process and drug development services, clinical trial supplies, commercial supply of APIs and finished dosage forms. We also provide specialized services such as the 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, benefiting from 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: PPPLPHARMA I BSE: 543635) offers a differentiated product and service portfolio through its 17 global development and manufacturing facilities and global distribution network in more than 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 an Indian consumer healthcare business that sells over-the-counter consumer and wellness products. In addition, Abbvie Therapeutics India Private Limited, a joint venture between AbbVie and PPL, one of PPL’s affiliates, has emerged as one of the leaders in the ophthalmology segment of the Indian pharmaceutical market. PPL also holds a strategic minority stake in Yapan Bio Private Limited, which operates in the biologics/biotherapeutics and vaccines space. In October 2020, PPL received 20% of strategic growth investment from Carlyle Group.
For more information, see: Piramal Pharmaceuticals | LinkedIn
* Includes an addendum regarding PPL’s minority stake in Yapan Bio.
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