Piramal Pharma Ltd News

CDMO shares under pressure; Neuland, Laurus, Syngene tank up to 12%

Thus far in the calendar year 2024 (CY24), the market price of Neuland Laboratories has zoomed 216%, Piramal Pharma (88%), Divi's Labs (53%) and Jubilant Pharmova (52%)

Piramal Pharma to pay $407,400 to US-based VetDC Inc to settle dispute

Piramal Pharma on Friday said it will pay USD 407,400 to US-based VetDC, Inc to settle a dispute over rejected batches of a product. Piramal Pharma Solutions Inc, a unit of the company, and VetDC, Inc have entered into a settlement agreement for an amount of USD 407,400, the drug maker said in a regulatory filing. VetDC had claimed damages on account of rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc. "While the company continues to believe that its legal stand is appropriate against claims made by VetDC and maintains that it has defence to VetDC's claims of liabilities and damages, in order to solely avoid continued legal costs and uncertainties of protracted litigation, the Company and VetDC have both decided to settle," Piramal Pharma said. The company shall have no responsibility for any other costs beyond the amount of USD 407,400, it added. "This settlement will not have a significant impact on the financial position of the .

Piramal Pharma soars 13% on heavy volumes; up 42% in 2 weeks post Q2 show

Till 12:35 pm; a combined 32.3 million shares representing 2.43 per cent of total equity of PPL changed hands on the NSE and BSE.

Piramal Pharma stock hits new, soars 25% in 6 days on strong Q2 results

Over the long term, the management remains committed to achieving the company's financial goals of $2 billion revenue with 25 per cent EBITDA margin and 1x net debt / EBITDA by FY30.

Piramal Pharma deploying $85 mn capex this fiscal: Nandini Piramal

Piramal Pharma is utilising a capex of about USD 85 million for various initiatives, including capacity expansion, maintenance and de-bottlenecking of CDMO sites, in the current fiscal, according to its Chairperson Nandini Piramal. The Mumbai-headquartered firm, which aims to cross USD 2 billion in revenue by FY30, has already invested around USD 30 million in the first half of the ongoing fiscal on the initiatives. "We expect the capex this year to be at a similar level as last year, which is about USD 85 million," Piramal told PTI in an interaction. A part of the capex is planned for the domestic market while some of it would also go into the US business, she added. "Some part of it, around USD 30 million, is maintenance capex, and the rest would go into capacity expansion in Telangana and Dahej (Gujarat) plants and also towards de-bottlenecking of some of the CDMO sites," Piramal noted. The company last week reported over four-fold increase in consolidated net profit at Rs 23 c

Piramal Pharma Q2FY25 results: Net profit jumps over 4-fold to Rs 23 crore

Piramal Pharma on Thursday reported over four-fold increase in consolidated net profit at Rs 23 crore for the second quarter ended September. The Mumbai-based company had reported a net profit of Rs 5 crore in the July-September quarter of last fiscal. Revenue from operations rose to Rs 2,242 crore in the second quarter as compared with Rs 1,911 crore in the year-ago period, Piramal Pharma said in a statement. "We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation-related work and on-patent commercial revenues," Piramal Pharma Chairperson Nandini Piramal said. To sustain this growth momentum and to capitalise on rising demand for sterile fill-finish capabilities, the company has announced a USD 80 million expansion plan at the Lexington facility which is expected to be completed by the FY27 end, she added. "In

Piramal Pharma hits all time high, soars 13%; here's what's driving stock

Piramal Pharma's company's revenue for the quarter under review stood at Rs 2,242 crore as compared to Rs 1,911 crore which implies an increase of 17 per cent Y-o-Y

Pharmaceutical firm Piramal Pharma eyes to double revenue to $2 bn by FY30

Eyeing tripling of Ebitda and bringing down net debt during the same period

Piramal Pharma soars 9% as co targets 2x revenue, 3x Ebitda margin by FY30

Piramal Pharma aims to achieve over $2 billion in revenue by FY30, which implies 2 times growth in revenue compared with FY24

Piramal Pharma hits record high in weak market; surges 12% on heavy volumes

As many as 43.42 million equity shares, representing 3.3 per cent of total equity of the pharma company, had changed hands on the NSE till afternoon

Piramal Pharma Q1FY25 results: Net loss narrows at Rs 88.64 crore

Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales. The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added. Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago. "We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said. The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added. "We are also seeing good demand for our differentiate

Piramal Pharma Q1FY25 results; Loss improves to Rs 89 cr; shares jump 3%

Shares of Piramal Pharma rose 3.51 per cent, reaching their 52-week high at Rs 172.10 per share on the BSE in Friday''s intraday trade