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Piramal Pharma trades higher as its PPS business to invest $80 million to expand Kentucky facility
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Piramal Pharma is currently trading at Rs. 229.50, up by 0.55 points or 0.24% from its previous closing of Rs. 228.95 on the BSE.
The scrip opened at Rs. 230.60 and has touched a high and low of Rs. 231.55 and Rs. 227.50 respectively. So far 167279 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 244.10 on 11-Sep-2024 and a 52 week low of Rs. 87.55 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 235.35 and Rs. 219.10 respectively. The current market cap of the company is Rs. 30459.06 crore.
The promoters holding in the company stood at 34.95%, while Institutions and Non-Institutions held 44.37% and 20.69% respectively.
Piramal Pharma Solutions (PPS), part of Piramal Pharma, has unveiled an $80 million investment plan to expand its Lexington, Kentucky facility. The site specializes in sterile compounding, liquid filling, and lyophilization for sterile injectable drug products, playing a vital role in Piramal Pharma Solutions integrated antibody?drug conjugate development and manufacturing program, ADCelerate. The investment, financed by bank loans and internal accruals, aims to enhance the site’s existing capacity and capabilities to meet the demands of a rapidly growing market. 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 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. Key additions include a new filling line, two commercial?size lyophilizers, a special capping machine, and an external vial washer. Currently, the Lexington site can manufacture 104 product batches per year (utilization at peak levels). Upon completion of the expansion in Q1 of 2027, this capacity will increase to over 240 annual batches.
Piramal Pharma provides end-to-end pharma services to customers and a portfolio of differentiated pharma products across a domestic and global distribution network.
