STATEMENT: Piramal Pharma Solutions announces the production of the first batches in the new API facilities

(Information sent by the signatory company).

STATEMENT: Piramal Pharma Solutions announces the production of the first batches in the new API facilities

(Information sent by the signatory company)

-Piramal Pharma Solutions announces production of the first batches at API's new facility in Riverview, Michigan

MUMBAI, India, Feb. 15, 2023 /PRNewswire/ -- Piramal Pharma Solutions, a patient-focused Contract Development and Manufacturing Organization (CDMO) and part of Piramal Pharma Ltd (PPL, NSE: | BSE: 543635), today announced that it has commenced production of initial batches of active pharmaceutical ingredients (APIs) in new reactor suites at its Riverview, Michigan, USA facility.

Construction of the capacity expansion at Riverview, known as Project PRIME (Piramal Riverview Integrated Manufacturing Expansion) Phase 1, broke ground in May 2021. Initial production is the culmination of a $38 million capital expenditure on equipment and construction costs. The facility occupies approximately 25,000 square feet of space and includes production, warehousing, and support services. It is easily expandable to accommodate more reactors, foreseen in phase 2 of the PRIME project.

The most outstanding technology of the new facilities is a 10 kl capacity reactor accompanied by a pressure filter drier. The reactors are capable of producing high potency APIs with low occupational exposure levels (OELs) of >1μg/m3.

Initial production batches represent the first step in a three-stage process for the development and manufacturing of Phase II clinical trial materials. As part of the program, Piramal technicians are scaling the material from 10-15 kg to 75-80 kg.

According to Peter DeYoung, CEO of Piramal Global Pharma, "The commissioning of Phase 1 of the PRIME Project is an important milestone for Piramal Pharma Solutions and the Riverview plant team. It brings additional capacity to our North American offering, which we believe meets the current high market demand for APIs It also responds to the industry trend of offshoring production of pharmaceuticals Coupled with the recent expansion of our API capabilities in Aurora, Canada, we believe we are ready and able to support the market with powerful and non-powerful APIs, from clinical to commercial scale."

The recent expansion of Piramal's API plant in Aurora, Ontario is part of a C$30 million capital investment. The new plant has more than three thousand square meters of manufacturing and service space and includes two new reactor rooms with additional filtration and drying capabilities.

About Piramal Pharma Solutions:

Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) that provides comprehensive development and manufacturing solutions throughout the drug life cycle. We serve our customers through an integrated global network of facilities in North America, Europe and Asia. This enables us to offer a wide range of services including drug discovery solutions, pharmaceutical and process development services, clinical trial supplies, commercial API supply and finished dosage forms. We also offer specialized services such as the development and manufacturing of highly potent active ingredients, antibody-drug conjugates, sterile fill/finish, peptide products and services, and potent solid oral drugs. PPS also provides development and manufacturing services for biologics, such as vaccines, gene therapies, and monoclonal antibodies, thanks to Piramal Pharma Limited's investment in Yapan Bio Private Limited. Our track record as a trusted service provider with expertise in a variety of technologies makes us the preferred partner for innovative and off-the-shelf companies around the world.

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About Piramal Pharma Ltd:

Piramal Pharma Limited (PPL, NSE: PPLPHARMA | BSE: 543635), offers a portfolio of differentiated products and services through comprehensive manufacturing capabilities at 17 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a business of Complex Hospital Generics; and the India Consumer Healthcare business, which sells over-the-counter products. In addition, PPL has a joint venture with Allergan, a leader in ophthalmology in the Indian formulations market, and a minority stake in Yapan Bio. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.

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Piramal Pharma Limited is proposing, subject to receipt of the necessary approvals, market conditions and other considerations, a rights issue of its shares in the near future, and intends to submit a draft offer letter to the Board of Stocks and Exchange of India.


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