Piramal Pharma Solutions Achieves Revenue Threshold on Innovation Work
- 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 /CNW/ -- 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.
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SOURCE Piramal Pharma Solutions
For Queries: Gagan Borana, Investor Relations & Enterprise Risk Management, [email protected] ; Madiha Vahid: +91-9819001881
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