Page 158 - CW E-Magazine (16-4-2024)

Pharmaceuticals

CONTRACT MANUFACTURING
Piramal Alternatives invests Rs. 110-crore in Biodeal

Pharmaceuticals

Piramal Alternatives, the fund man- regulatory standards, presents an ex-
agement division of the Piramal Group, citing opportunity for us. Through Pi-
has announced a signifi cant investment ramal Alternatives, we are committed
of Rs. 110-crore in Biodeal Pharma- to providing fl exible, bespoke, and
ceuticals Ltd., a leading contract deve- value-accretive capital to support Bio-
lopment and manufacturing company, deal’s growth trajectory in this promis-
facilitated through convertible instru- ing segment,” said Mr. Kalpesh Kikani,
ments from its Performing Credit Fund. CEO, Piramal Alternatives.

The funding will be directed to- Capacity expansion
wards improving infrastructure and pection Co-operation Scheme (PIC/S) According to Mr. Anurag Kumar,
capacities, upgrading technology, and approval. Additionally, Biodeal’s of- MD, Biodeal Pharmaceuticals, the in-
underlay a dedicated nutraceuticals ferings span various dosage formats, fusion of capital will empower Biodeal
manufacturing facility. Biodeal is a including dry powder inhalation cap- to be ready with a new upcoming faci-
key player in contract manufacturing, sules, capsules, tablets, ointments, lity in compliance with USFDA accredi-
offering a wide range of products. It is lotions, and dusting powder. tations in coming 12-15 months. “This
among India’s leading manufacturer of capital raise will boost us to accelerate
nasal sprays, catering to marquee inter- “The strong market potential of the our existing production capacity by 3
national and domestic pharmaceutical nasal sprays segment, along with the times and will bolster our manufactur-
companies. Earlier this year, the com- Biodeal’s leading position in contract ing capabilities, and expand our market
pany attained its Pharmaceutical Ins- manufacturing and adherence to global reach,” he said.

MARKET TRENDS
Indian pharma market posts 9.5% value growth in March

The Indian Pharmaceutical Market the IPM. Interestingly, gastro-intestinal
(IPM) saw a 9.5% growth in March therapies saw a decline in unit sales (or
2024 on the back of all major therapy volumes), whereas anti-infective unit
areas showing positive value growth, growth rate remained the same, accord-
according to market research fi rm, ing to data.
Pharmarack. Growth in the moving
annual turnover (MAT or previous 12 Among the companies, while the
months’ turnover) between April 2023 top players registered modest monthly
and March 2024 was 6.5%, leading to value growth in the domestic market,
a total turnover of Rs. ~1.98-trillion, for March 2024,” said Ms. Sheetal players such as Fourrts (21.1%), Corona
while volumes in the domestic market Sapale, vice-president (commercial) at (20.3%), Cadila (15.3%), and Alkem
dipped by 1%. Pharmarack. (15.1%) posted signifi cant monthly
value growth in March 2024. GSK’s
“Almost all therapies have shown Among the leading therapies, cardiac, antibiotic drug Augmentin and USV’s
positive value growth, except for respi- anti-infectives, and gastro-intestinal anti-diabetic drug Glycomet GP con-
ratory, which recorded negative value have shown relatively robust volume tinued to be the top-selling medicine
growth. Price growth percentage has growth at 7.5%, 6.8%, and 5.8% res- brands for March 2023, with sales fi g-
continued to be positive, whereas vol- pectively, in MAT fi gures. Together the ures of ~Rs. 730-mn and ~Rs. 590-mn
ume growth percentage is negligible three therapy areas constitute 37.5% of respectively.

158 Chemical Weekly April 16, 2024

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