In Short:
Piramal Alternatives is investing ₹110 crore in Biodeal Pharmaceuticals Ltd, which manufactures nasal sprays for pharmaceutical companies. The investment aims to improve infrastructure, upgrade technology, and set up a new manufacturing facility. This investment will allow Biodeal to expand and increase production capacity, while adhering to global regulatory standards. The focus is on introducing new solutions and enhancing patient outcomes with unique drug delivery systems.
Investment in Biodeal Pharmaceuticals Ltd
Exciting news! Piramal Alternatives is investing a whopping ₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing company.
Improving Infrastructure and Capacities
Biodeal is known for its range of nasal sprays that cater to both international and domestic pharmaceutical companies. With Piramal Alternatives’ investment, the focus will be on improving infrastructure, upgrading technology, and setting up a dedicated nutraceuticals manufacturing facility.
PA’s Investment Strategy
Piramal Alternatives is the fund management division of the Piramal Group, and they will be investing through convertible instruments from their Performing Credit Fund. This strategic move will help propel Biodeal to new heights in the pharmaceutical industry.
Market Potential and Growth
Kalpesh Kikani, PA Chief Executive, highlighted the market potential of the nasal sprays segment and praised Biodeal’s position in contract manufacturing and adherence to global regulatory standards. This investment presents a significant opportunity for both companies.
Expansion and Innovation
Anurag Kumar, Biodeal Managing Director, expressed excitement about the capital infusion empowering Biodeal to establish a new facility in compliance with USFDA accreditation within 12-15 months. This boost in capital will accelerate production capacity, enhance manufacturing capabilities, and expand market reach. Additionally, it will allow Biodeal to introduce novel solutions and improve patient outcomes with unique drug delivery systems.
With this investment, the future looks bright for both Piramal Alternatives and Biodeal Pharmaceuticals Ltd as they work together to drive innovation and growth in the pharmaceutical industry.
