Piramal Pharma's Bold USD 85 Million Expansion Plan

Piramal Pharma is investing USD 85 million this fiscal for expansion and maintenance, with USD 30 million already spent in the first half. The company aims for USD 2 billion in revenue by 2030, with significant focus on CDMO and critical care verticals.

Piramal Pharma is actively investing USD 85 million this fiscal year to bolster its various operational fronts, including capacity expansion, maintenance, and de-bottlenecking of Contract Development and Manufacturing Organisation (CDMO) sites, as revealed by Chairperson Nandini Piramal. The Mumbai company's goal is to reach USD 2 billion in revenue by FY30.

Within the first half of the current fiscal, around USD 30 million has been allocated for these initiatives. Piramal highlighted that this year's capital expenditure is consistent with the previous year's investments. A portion of these funds is directed towards the domestic market, with significant attention also given to expanding US operations.

Specifically, the budget will target capacity increases in Telangana and Dahej plants, along with relieving congestion at several CDMO sites. Piramal Pharma's global division, Piramal Pharma Solutions, has dedicated USD 80 million to enhance its sterile injectables plant in Lexington, Kentucky. As the company strategizes for inorganic growth, it aims for its CDMO vertical to hit USD 1.2 billion, and its critical care segment to reach USD 600 million by FY30.

(With inputs from agencies.)