Piramal Group Investment in Biodeal Pharma

Infusion Announcement

The Piramal Group announced on Monday a significant investment of Rs 110 crore into Biodeal Pharmaceuticals. The contract development and manufacturing company is set to utilize these funds, provided by Piramal Alternatives, for various purposes outlined in an official statement.

Utilization of Funds

Biodeal Pharmaceuticals plans to enhance its infrastructure and capacities, upgrade its technology, and establish a nutraceuticals manufacturing facility with the capital infusion. The investment is facilitated through convertible instruments from Piramal Alternatives’ Performing Credit Fund.

Leading Position

According to the Piramal Group statement, Biodeal Pharmaceuticals holds a prominent position among India’s leading manufacturers of nasal sprays, serving renowned international and domestic pharmaceutical companies.

Market Potential

Kalpesh Kikani, Chief Executive of Piramal Alternatives, highlighted the strong market potential in the nasal sprays segment. He emphasized Biodeal’s leading role in contract manufacturing and its adherence to global regulatory standards, positioning it as an exciting investment opportunity.

Expansion Plans

Anurag Kumar, Managing Director of Biodeal Pharmaceuticals, expressed that the capital raise will facilitate a threefold increase in production capacity. Additionally, the company aims to establish a new facility compliant with United States Food and Drug Administration (USFDA) accreditations within the next 12-15 months, alongside expanding its market reach.