“Piramal Group Arm Invests Rs 110 crore in Biodeal Pharmaceuticals”

The Piramal Group's investment division, Piramal Alternatives, has made a Rs 110 crore investment in Biodeal Pharmaceuticals Limited . Biodeal is a manufacturing and contract development company. The investment is meant to support Biodeal's solution development, improve its manufacturing capacity, and grow the company to establish itself as a top nasal spray producer.

The money will be used to expand Biodeal's production capacity and infrastructure. It will also go toward building a nutraceutical manufacturing plant and modernizing technologies. As a participant in contract manufacturing, Biodeal currently sells items like ointments, pills, dry powder inhalation capsules, and nasal sprays. Convertible securities from Piramal's Performing Credit Fund enabled the investment. The company further cemented its market position earlier this year when it received permission for the Pharmaceutical Inspection Co-operation Scheme (PIC/S).

Kalpesh Kikani, CEO of Piramal Alternatives , commented on this by saying, “We have an interesting opportunity because of the nasal sprays segment's tremendous market potential, Biodeal's leadership in contract manufacturing, and our adherence to international regulatory standards. We are dedicated to supporting Biodeal's growth trajectory in this potential area with flexible, tailored, and value-accretive finance through Piramal Alternatives.”

Anurag Kumar, Managing Director of Biodeal Pharmaceuticals, commented on this, saying, “With the financial infusion from Piramal Alternatives, Biodeal will have the resources to prepare a new facility that will comply with USFDA accreditations within the next 12 to 15 months. Through this capital offer, we will be able to triple our current production capacity, improve our manufacturing capabilities, and reach a wider market.”