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Piramal Alternatives has announced a substantial investment of ?110 crore in Biodeal Pharmaceuticals Ltd, a prominent contract development and manufacturing company specializing in pharmaceutical products.
Biodeal Pharmaceuticals boasts a diverse product portfolio, with a particular emphasis on nasal sprays catering to both international and domestic pharmaceutical companies. The infusion of funds from Piramal Alternatives (PA) will be directed towards enhancing infrastructure, augmenting capacities, modernizing technology, and establishing a dedicated nutraceuticals manufacturing facility.
PA, the fund management arm of the Piramal Group, will facilitate the investment through convertible instruments from its Performing Credit Fund, according to a statement released by the company.
Biodeals array of products includes various dosage formats such as dry powder inhalation capsules, capsules, tablets, ointments, lotions, and dusting powder. Kalpesh Kikani, CEO of PA, highlighted the promising market potential of the nasal sprays segment, coupled with Biodeals strong position in contract manufacturing and adherence to global regulatory standards.
Anurag Kumar, Managing Director of Biodeal, expressed confidence that the capital infusion would enable the company to establish a new facility compliant with USFDA (US Food and Drug Administration) accreditation within 12-15 months. He emphasized that the investment would accelerate existing production capacity by threefold, enhance manufacturing capabilities, and expand market reach. Kumar also underscored Biodeals commitment to introducing innovative solutions and improving patient outcomes through unique drug delivery systems. |
