Piramal Pharma Solutions, a leading global Contract Development and Manufacturing Organization (CDMO) and part of Piramal Pharma Ltd, recently announced a $90M investment plan to expand two of its U.S. facilities, which are critical to its integrated offering. This ambitious investment underscores the company's commitment to industry leadership through continuous growth and innovation.
This investment comes at a pivotal moment for the sterile injectables market, which is experiencing significant growth driven by increased medical necessity, broader regulatory approvals, and sizable advancements in scientific research and development. Additionally, the streamlined delivery systems associated with sterile injectables contribute to their efficacy and safety, making these solutions increasingly popular among both healthcare providers and patients. Similarly, ADC therapies are gaining substantial traction, fueled by ongoing innovation, wider regulatory acceptance, and robust evidence demonstrating their effectiveness. The growing prevalence of ADCs underscores the pressing need for expanded manufacturing and development capabilities to meet the evolving landscape of patient care.
"We prioritize patient, consumer, and customer centricity in all our operations, engaging with the populations we serve to better understand, anticipate, and address their needs. Our research has revealed that the sterile injectables market is projected to exceed $20B by 2028, underscoring the urgent need for us to enhance our offerings in this segment. We are confident that this strategic $90M investment will empower us to meet the demands of this market, reinforcing our position as a trusted global partner in biologic manufacturing. By enhancing the services we provide to our partners, we can reduce the burden of disease for more patients around the globe," said Nandini Piramal, Chairperson, Piramal Pharma.
"As the market adjusts and preferences shift, we are committed to adapting to meet its current requirements," said Peter DeYoung, Chief Executive Officer, Piramal Global Pharma. "ADCs are rapidly emerging as one of the most effective classes of precision immunotherapy targeting certain cancers and tumors. As this class of drugs becomes more prevalent, we will adapt our services to accommodate this growing demand. By investing in the Lexington and Riverview facilities, we will enhance our integrated ADC offering, ADCelerate™, and increase our capacity to bring high-quality, innovative treatments to our clients and their patients worldwide."
The Lexington facility expansion also represents an investment in the local community, creating 40 new full-time jobs that will enhance the local economy and strengthen Piramal Pharma's workforce. Piramal Pharma will continue to work alongside local partners, leveraging the region's strengths to remain at the forefront of innovation. Additionally, this investment aligns with the growing trend toward U.S. onshore manufacturing, reinforcing the company's dedication to domestic production in the U.S. and supply chain resilience.
At the groundbreaking ceremony, Lexington Mayor Linda Gorton expressed her excitement about the project and the promising opportunities it presents for the city, stating, "Piramal's decision to expand its facility here in Lexington sends a message around the world that Lexington is a great place to do business. Lexington is home to one of the nation's best pharmacy programs – the University of Kentucky College of Pharmacy – and we are well on our way to becoming a leader in the pharmaceutical industry, as well."
Others echoed Mayor Gorton's sentiment with equal enthusiasm, including Jim Stephanou, CEO of IPS-Integrated Project Services, who said, "IPS is a proud supporter of Piramal's growth over the past five years, providing fit-for-purpose solutions on transformative projects across India, the UK, Canada, and the U.S. Our longstanding relationship is built on trust and a relentless commitment to technical excellence. Nothing is more rewarding than seeing shovels in the ground, especially here in Lexington. This groundbreaking highlights our deep expertise in Aseptic Fill/Finish facilities, and our passion to help Piramal bring this advanced manufacturing facility to life to deliver critical therapies to patients around the world."
Commerce Lexington President and CEO, Bob Quick, said, "We are proud to celebrate this milestone moment with Piramal and excited for its continued growth and success. Biotech is a key strategic target for Greater Lexington economic development professionals, and this expansion will further strengthen the region as a hub for biotech and life sciences. Piramal's investment highlights the advantages of the area as an exceptional place where innovative companies come to grow and thrive."
Piramal Pharma Solutions' $90M investment in its U.S. facilities represents a significant advancement in its manufacturing capabilities and underscores its ongoing commitment to patient-centric care. This strategic move will enable Piramal Pharma to meet the evolving needs of the healthcare landscape, positioning the company at the forefront of the rapidly growing sterile injectables and ADC markets and ensuring a brighter future for patients and communities alike.
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