Piramal Pharma Solutions (PPS) has entered an agreement to acquire Hemmo Pharmaceuticals Pvt Ltd. for an upfront consideration of $106 million plus milestone payments.
 
The acquisition marks PPS’ foray into the development and manufacture of peptide APIs. Hemmo, a pure-play synthetic peptide API manufacturer in the global marketplace, gives PPS access to the growing peptide API market and enhances its integrated CDMO service offering globally.
 
Hemmo is one of India’s largest manufacturers of synthetic peptides with R&D capabilities and a GMP manufacturing facility that is compliant by U.S., EU, and Asian regulatory agencies. The company has expertise in both solution phase and solid phase synthesis of peptides.
 
Peter DeYoung, CEO, Pharma Solutions, Piramal Pharma Ltd. said, “During the past decade, peptide drugs have seen increased use in oncology, treatment of diabetes and obesity. The growth in therapies for rare diseases and orphan drugs has also increased the need for peptides. This acquisition enhances our ability to provide integrated solutions that our customers need and further expands ways in which we can help reduce the burden of disease on patients.”
 
Madhu Utamsingh, Promoter and Managing Director of Hemmo said, “We are very excited about this transaction and believe PPS is an ideal partner to take the business through its next phase of growth. Hemmo’s employees and customers have been core to the business and I strongly believe, will benefit from PPS’ expertise in providing integrated services globally.”
 
The acquisition is expected to add more than two-hundred and fifty employees to PPS, including several PhD scientists and a Quality team of more than sixty. The acquisition is subject to customary closing conditions.