Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals
Summary
Piramal Alternatives, the fund management division of the Piramal Group, has invested Rs 110 crore in Biodeal Pharmaceuticals Limited, a contract development and manufacturing company through convertible instruments from its Performing Credit Fund.The investment aims to enhance infrastructure, upgrade technology, and establish a specialised nutraceuticals manufacturing facility, the investor said in a press statement..Biodeal is a significant player in contract manufacturing, serving a diverse clientele. Its product portfolio encompasses various dosage formats such as dry powder inhalation capsules, tablets, ointments, lotions, and dusting powder.The strong market potential of the nasal sprays segment, along with the Biodeals leading position in contract manufacturing and adherence to global regulatory standards, presents an exciting opportunity for us," said Kalpesh Kikani, CEO, Piramal Alternatives. "Through Piramal Alternatives, we are committed to providing flexible, bespoke, and value-accretive capital to support Biodeals growth trajectory in this promising segment," he added.Piramal Alternatives, the asset management arm of Piramal Group, manages $1.5 billion and focuses on addressing credit gaps in the mid-market segment. "This capital raise will boost us to accelerate our existing production capacity by 3 times and will bolster our manufacturing capabilities, and expand our market reach, he added.Emkay Global was the exclusive financial advisor to Biodeal for this deal.Also read: Healthcare innovation market in India could double to $60 billion by 2028: Bain & CoBiodeal operates as a fully integrated pharmaceutical manufacturing and marketing entity, offering a wide array of products in Pharmaceuticals, Cosmetics, and Nutraceuticals. Biodeal also has a strong global presence with its range of branded products, catering to diverse consumer needs.Also read: Why government is cracking down on junkets, gifts for doctors by pharma firms