The pharmaceutical solutions division of $750 million conglomerate Piramal Enterprises Limited (PEL) Tuesday said it is planning to invest $40 million on new equipment and modern technologies.
"To serve our partners better, Piramal Pharma Solutions continues to invest in next generation technologies and R&D. The recent investments include areas such as anti-body drug conjugation (ADC), advanced flow reactor (ARF) and biocatalysis centre of excellence systems," the company said in a statement here.
It will also enhance related infrastructure to accommodate the new technologies and equipment.
Recently, the company completed a $10 million green field facility to double its discovery services capacity, and also approved a $20 million capacity expansion for hormonal (Morpeth) and ADC (Grangemouth) manufacturing.
Piramal Pharma Solutions is an integrated solutions provider offering comprehensive range of services across the drug lifecycle. With a successful performance record of over four decades in API supply (active pharmaceutical ingredients), drug products, drug discovery services, and with supply facilities in North America, Europe and Asia, it has established itself as a global market leader.
On the healthcare front, PEL is one of the leading global players in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.
The company said it has secured four awards in three key categories of quality, reliability, and regulatory at the recent CMO Leadership Awards held in Boston, US.