Piramal Alternatives Injects Rs 110 Crore into Biodeal Pharmaceuticals
Piramal Alternatives, the fund management arm of the esteemed Piramal Group, has announced a significant investment of Rs 110 crore in Biodeal Pharmaceuticals, a distinguished contract development and manufacturing company headquartered in Noida. Facilitated through convertible instruments from its Performing Credit Fund, this investment is poised to fuel Biodeal's growth trajectory and reinforce its market presence.
The injected funds are earmarked for several strategic initiatives, including the enhancement of infrastructure and capacities, technological upgrades, and the establishment of a specialized nutraceuticals manufacturing facility. Biodeal, a frontrunner in contract manufacturing, boasts a diverse product portfolio and is renowned as one of India's premier manufacturers of nasal sprays, catering to renowned international and domestic pharmaceutical giants.
Earlier this year, Biodeal achieved a significant milestone by securing Pharmaceutical Inspection Co-operation Scheme (PIC/S) approval, underscoring its commitment to adhering to global regulatory standards. Furthermore, the company's product offerings encompass a wide range of dosage formats, spanning dry powder inhalation capsules, tablets, ointments, lotions, and dusting powder.
Kalpesh Kikani, CEO of Piramal Alternatives, expressed enthusiasm about the investment, citing the robust market potential of the nasal sprays segment and Biodeal's leading position in contract manufacturing. He reiterated Piramal Alternatives' dedication to providing adaptable, customized, and value-enhancing capital to bolster Biodeal's growth in this promising sector.
Anurag Kumar, MD of Biodeal, welcomed the infusion of capital from Piramal Alternatives, noting its pivotal role in facilitating the establishment of a new facility compliant with USFDA accreditations within the next 12-15 months. Kumar emphasized that this capital infusion would triple the company's existing production capacity, fortify manufacturing capabilities, and broaden market outreach.
With a renewed emphasis on innovation, efficiency, and USFDA compliance, Biodeal is poised to introduce groundbreaking solutions addressing unmet medical needs and enhancing patient outcomes, particularly through its unique nasal spray delivery system, across diverse geographies and regulatory frameworks.
In the fiscal year 2022-23, Biodeal recorded a commendable revenue of Rs 101 crore and serves as a trusted supplier to all major Indian pharmaceutical companies. Emkay Global played a pivotal role as the exclusive financial advisor to Biodeal for this transformative deal. Overall, Piramal Alternatives' strategic investment underscores its commitment to fostering innovation and growth within the pharmaceutical manufacturing landscape.
The injected funds are earmarked for several strategic initiatives, including the enhancement of infrastructure and capacities, technological upgrades, and the establishment of a specialized nutraceuticals manufacturing facility. Biodeal, a frontrunner in contract manufacturing, boasts a diverse product portfolio and is renowned as one of India's premier manufacturers of nasal sprays, catering to renowned international and domestic pharmaceutical giants.
Earlier this year, Biodeal achieved a significant milestone by securing Pharmaceutical Inspection Co-operation Scheme (PIC/S) approval, underscoring its commitment to adhering to global regulatory standards. Furthermore, the company's product offerings encompass a wide range of dosage formats, spanning dry powder inhalation capsules, tablets, ointments, lotions, and dusting powder.
Kalpesh Kikani, CEO of Piramal Alternatives, expressed enthusiasm about the investment, citing the robust market potential of the nasal sprays segment and Biodeal's leading position in contract manufacturing. He reiterated Piramal Alternatives' dedication to providing adaptable, customized, and value-enhancing capital to bolster Biodeal's growth in this promising sector.
Anurag Kumar, MD of Biodeal, welcomed the infusion of capital from Piramal Alternatives, noting its pivotal role in facilitating the establishment of a new facility compliant with USFDA accreditations within the next 12-15 months. Kumar emphasized that this capital infusion would triple the company's existing production capacity, fortify manufacturing capabilities, and broaden market outreach.
With a renewed emphasis on innovation, efficiency, and USFDA compliance, Biodeal is poised to introduce groundbreaking solutions addressing unmet medical needs and enhancing patient outcomes, particularly through its unique nasal spray delivery system, across diverse geographies and regulatory frameworks.
In the fiscal year 2022-23, Biodeal recorded a commendable revenue of Rs 101 crore and serves as a trusted supplier to all major Indian pharmaceutical companies. Emkay Global played a pivotal role as the exclusive financial advisor to Biodeal for this transformative deal. Overall, Piramal Alternatives' strategic investment underscores its commitment to fostering innovation and growth within the pharmaceutical manufacturing landscape.
