loader2
Login Open ICICI 3-in-1 Account

PIRAMAL PHARMA TO ACQUIRE HEMMO PHARMACEUTICALS

Published on Mar 31, 2021 16:44

Piramal Pharma (PPL), subsidiary of Piramal Enterprises has entered into an agreement to acquire 100% stake in Hemmo Pharmaceuticals (Hemmo) for an upfront cash consideration of Rs.775 crore and earn-outs linked to achievement of milestones (the Acquisition). Consequent to this Acquisition, Hemmo would become a wholly owned subsidiary of PPL.

Hemmo develops and manufactures peptide APIs and markets these to pharma companies in both domestic and global markets. Hemmo`s portfolio covers 30+ APIs and custom synthesis services. Hemmo`s turnover during financial years 2019-20 was Rs. 85 crore. Its manufacturing facility is located at Turbhe, which is certified by the USFDA, EQDM, etc., while its R&D facility is located at Thane which focuses on process development.

Powered by Capital Market - Live News