Shares of Piramal Enterprises jumped 4% on the BSE after its Piramal Pharma unit acquired a 27.78% stake in Yapan Bio, a contract process development and manufacturing organisation (CDMO) in Hyderabad’s Genome Valley, for ₹101.77 crore in cash.
The acquisition adds to Piramal Pharma’s global capabilities in the development and manufacturing of large molecules for human clinical trials, the company said on Tuesday.
Biologics and related development services were the fastest growing CDMO segments over the past decade, said Peter DeYoung, CEO - Pharma Solutions, Piramal Pharma.
