A unit of Piramal Pharma Ltd. on Monday announced an investment of $80 million, or Rs 670 crore, to expand its sterile injectables facility in Lexington, Kentucky, in the US. The investment will be part-financed by bank loans as well as internal accruals.
Piramal Pharma Solutions, a global contract development and manufacturing organisation, said the expansion will equip the Lexington site with an additional 24,000 square feet of manufacturing space, a new laboratory, and state-of-the-art machinery to scale clients’ products effectively, according to an exchange filing.
The unit specialises in sterile compounding, liquid filling, and lyophilisation for sterile injectable drug products, playing a vital role in the company's integrated antibody-drug conjugate development and manufacturing programme 'ADCelerate'.
Currently, the Lexington site can manufacture 104 product batches each year, and following the expansion that will be completed by March 2027, the capacity will rise to over 240 annual batches.
"With this expansion, Piramal Pharma will strengthen its position as an efficient and reliable global partner for biologic manufacturing, leveraging deep scientific expertise and extensive experience managing complex technical projects," the filing said.
Piramal Pharma Solutions offers specialised 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.
It also offers development and manufacturing services for biologics, including vaccines and gene therapies.
The US injectables market is expected to exceed $20 billion by 2028.
The capacity expansion in the Kentucky site will position Piramal Pharma as a comprehensive partner across the entire product life cycle, said Peter DeYoung, chief executive officer of the company's global division.
Piramal Pharma's share price closed 2.6% higher at Rs 228.95 apiece ahead of the announcement, compared to a 1.5% decline in the benchmark BSE Sensex.
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