INDIA—Piramal Alternatives, the Piramal Group’s investment arm, has made a significant investment of Rs 110 crore (US$13.218 million ) in Biodeal Pharmaceuticals, a prominent contract development and manufacturing company.

This strategic investment is designed to accelerate Biodeal’s growth trajectory by increasing its R&D activities, production capabilities, and operational footprint, with a particular emphasis on becoming a leading maker of nasal sprays.

The influx of capital will be used to improve Biodeal’s infrastructure and increase capacity.

Furthermore, expenditures will be directed toward improving technological skills and constructing a cutting-edge nutraceuticals manufacturing plant.

Notably, Biodeal has already established itself as a major participant in the contract manufacturing industry, providing a wide range of products such as nasal sprays, dry powder inhalation capsules, pills, and ointments.

This investment transaction was facilitated by convertible instruments from Piramal’s Performing Credit Fund, demonstrating Piramal’s belief in Biodeal’s future.

Earlier this year, Biodeal received the famous Pharmaceutical Inspection Co-operation Scheme (PIC/S) license, solidifying its position as a reliable and compliant participant in the pharmaceutical manufacturing industry.

Emkay Global served as Biodeal Pharmaceuticals’ exclusive financial advisor for this revolutionary transaction, helping to ensure the transaction’s success and strengthening shareholder confidence in Biodeal’s growth trajectory. 

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