Piramal Pharma Solutions (PPS), a part of Piramal Pharma Ltd, is planning to invest $80 million to expand its sterile injectables facility in Lexington, Kentucky. This expansion aims to more than double the current production capacity by the first quarter of 2027.
Right now, the Lexington site can produce 104 product batches each year at peak capacity. Once the expansion is complete, the facility will be able to produce over 240 batches annually. The investment will be funded through bank loans and the company’s own funds, enabling PPS to meet the rising demands of the market. The Lexington site is also crucial for the company’s antibody-drug manufacturing program, known as ADCelerate.
The expansion will add 24,000 square feet of manufacturing space, a new laboratory, and new machinery to the facility.
Nandini Piramal, chairperson of Piramal Pharma, noted that this move will help the Lexington site tap into the rapidly growing injectables market, which is expected to exceed $20 billion by 2028.
Piramal Pharma has set an ambitious goal to double its overall turnover to $2 billion by 2030, and it plans to double its revenue from contract development and manufacturing organizations (CDMO), which currently makes up 58% of its total revenue.
Additionally, the US Biosecure Act, if approved by the Senate, may further benefit Indian pharmaceutical companies with CDMO capabilities by restricting US federal agencies from sourcing biotechnology equipment from specific Chinese companies. While Piramal believes this transition will take time, they are already noticing an increase in requests for proposals (RFPs) from clients since March 2024.
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