Piramal Pharma Solutions (PPS) made this third acquisition of FY21 as it entered into an agreement to purchase a 100% stake in Hemmo Pharmaceuticals Pvt. Ltd for ₹775 crore, the companies said in a joint statement on Wednesday. PPS is the contract development and manufacturing organization (CDMO) of Piramal Pharma Ltd (PPL).

— Mint

The acquisiton will see Piramal Pharma Solutions venture into the development and manufacturing of peptide APIs and expand its existing offerings.

Desai & Diwanji advised Hemmo Pharmaceuticals led by a team of partner Natasha Treasurywala, senior associate Shireen Langrana and associate Kunal Pradhan.

Economic Laws Practice (ELP) acted as the legal counsel for Piramal Pharma solutions in the deal, led by a team including partner Aakanksha Joshi associate partner Ananthram Ganesh senior associate Ashima Saxena.

2021-03-31

Deal value: Over INR 775 crores (USD 106 million)

{incomplete}