Ajay Piramal-promoted custom manufacturing-to-consumer health company Piramal Healthcare Ltd has expanded its drug manufacturing unit in Scotland with a fresh investment of Rs 20 crore (£2.0 million) to manufacture antibody drug conjugates for the global markets. The company's UK subsidiary Piramal Healthcare UK Ltd said in a statement on Tuesday (17 November) that its manufacturing base at Grangemouth in Scotland will yield additional revenue of at least £3-5 million over 5 years to Piramal Healthcare’s overall revenues, the company said on Tuesday. The new section of the manufacturing unit will also generate up to 20 new high-skill job roles, backed by £200,000 Regional Selective Assistance funding.
The new investment by Piramal in Scotland is part of the the region's recent launch of an industry-led life and chemical sciences manufacturing strategy of the local authority. According to Scotland first minister Nicola Sturgeon, this industry development strategy has positioned Scotland as a globally competitive base for sustainable high-value manufacturing.
"Piramal Healthcare is a key element to the antibody drug conjugate (ADC) hub in Scotland and its further expansion is a testament to Scotland’s attractiveness as a life sciences manufacturing location," he said while inaugurating the new manufacturing unit of Piramal Healthcare.
This expert manufacturing initiative such as the one delivered by Piramal is only one of the many interconnected segments of Scotland’s globally competitive pharma services sector with over 160 companies at this location, the minister added.
According to Piramal Healthcare's site leader at Scotland Mark Wright, the company has been growing its operations in Grangemouth since 2005 and currently employs around 140 people in predominantly highly skilled positions.
"We aim to scale up this facility in the next 5 years to maintain its position as a global leader in the production of Antibody Drug Conjugates," Wright added.
“Scottish Development International has worked with Piramal Healthcare for a number of years to support their Scottish operations. So I am delighted to see continued growth at Piramal’s Grangemouth facility in Scotland, which in turn supports their global markets, said Rooma Kumar Bussi, country director, Scottish Development International, India.
Scotland is currently one of the top locations that attracted the most foreign direct investments in the UK outside London, especially in the life sciences space. The region also has a thriving life sciences community and a close-knit business and academic ecosystem which presents better supply chain opportunities to the pharma industry.
