- For the first time in the company's history, revenues earned on
programs for pharma innovator companies surpassed generics
programs
- Innovation revenue rose from 35% of total in FY19 to more than
50% in FY24
- CAGR of 20% for innovator work far exceeds the overall CDMO
business's benchmark
MUMBAI, India, July 30, 2024 /PRNewswire/ -- 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 earned on innovation programs
surpassed that of generic projects.
Over the past five years, innovation revenue has grown from 35%
of total to more than 50%, representing a CAGR of 20%. The 50%
figure represents work performed for pharma innovator customers
across discovery, development and on-patent commercial
manufacturing. It includes projects spanning preclinical
development through Phases I, II, and III. This growth far outpaces
the annual growth rate of Piramal Pharma's overall CDMO
business.
Peter DeYoung, Chief Executive
Officer, Piramal Pharma Solutions, said, "Achieving this
threshold is a significant milestone in the history of Piramal
Pharma Solutions. For many years, our organizational strategies and
tactics have focused on building the expertise and capabilities
required to fully support innovator work. This breakthrough
validates our efforts and secures our position as an innovator CDMO
that support customers in their quest to bring new, patient-centric
medicines to regulated markets around the world."
The growth in innovation revenue is consistent with Piramal
Pharma's success in delivering high value services, including high
potency active pharmaceutical ingredients (HPAPIs), antibody-drug
conjugations, peptide APIs, sterile fill/finish, and integrated
programs, which encompass work conducted at more than one of the
company's fifteen global sites. Integrated programs offer
compelling value propositions to customers such as reduced
time-to-market, simplified operational complexity, and reduced
supply chain costs. Piramal Pharma Solutions has successfully
delivered more than 125 integrated programs to date, with many
others currently underway.
About Piramal Pharma Solutions
Piramal Pharma Solutions (PPS) is a Contract Development and
Manufacturing Organization (CDMO) offering end-to-end development
and manufacturing solutions across the drug life cycle. We serve
our customers through a globally integrated network of facilities
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 APIs, and finished dosage forms. We also offer
specialized services such as the development and manufacture of
highly potent APIs, antibody-drug conjugations, sterile
fill/finish, peptide products and services, and potent solid oral
drug products. PPS also offers development and manufacturing
services for biologics including vaccines and gene therapies, made
possible through Piramal Pharma Limited's associate company, Yapan
Bio Private Limited.
For more information, visit:
www.piramalpharmasolutions.com |
LinkedIn| Facebook | X
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 a
global distribution network in over 100 countries. PPL
includes Piramal Pharma Solutions (PPS), an integrated contract
development and manufacturing organization; Piramal Critical Care
(PCC), a complex hospital generics business; and the India Consumer
Healthcare business, selling over-the-counter consumer and wellness
products. In addition, one of PPL's associate companies, Abbvie
Therapeutics India Private Limited, a joint venture between Abbvie
and PPL, has emerged as one of the market leaders in the
ophthalmology therapy area in the Indian pharma market. Further,
PPL has a strategic minority investment in Yapan Bio Private
Limited, that operates in the biologics/bio-therapeutics and
vaccine segments. In October 2020,
PPL received a 20% strategic growth investment from the Carlyle
Group.
For more information, visit: Piramal
Pharma | LinkedIn
* Includes one facility via PPL's minority
investment in Yapan Bio.
Photo:
https://mma.prnewswire.com/media/2471732/Peter_DeYoung_Piramal.jpg
Logo:
https://mma.prnewswire.com/media/1726186/4462420/Piramal_Pharma_Solutions_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/piramal-pharma-solutions-achieves-revenue-threshold-on-innovation-work-302209812.html