Innovation revenue exceeds generics for the first time in company history
For the first time, revenue earned from innovation programs has surpassed that from generic projects.
Over the past five years, Piramal has seen its innovation revenue rise from 35% of total revenue in FY19 to more than 50% in FY24, representing a Compound Annual Growth Rate (CAGR) of 20%.
Commercial manufacturing
This significant growth includes work performed for pharma innovator customers across discovery, development, and on-patent commercial manufacturing, spanning preclinical development through phases 1, 2, and 3. This pace far exceeds the overall growth rate of Piramal’s CDMO business.
Peter DeYoung, chief executive officer of Piramal Pharma Solutions, said: “Achieving this threshold is a significant milestone in the company’s history. For many years, our organizational strategies and tactics have focused on building the expertise and capabilities required to fully support innovator work. This breakthrough validates our efforts and secures our position as an innovator CDMO that supports customers in their quest to bring new, patient-centric medicines to regulated markets around the world.”
Innovative solutions driving success
The impressive growth in innovation revenue aligns with Piramal’s success in delivering high-value services, including high potency active pharmaceutical ingredients (HPAPIs), antibody-drug conjugations, peptide APIs, sterile fill/finish, and integrated programs. These integrated programs, conducted across the company’s fifteen global sites, offer compelling value propositions to customers, such as reduced time-to-market, simplified operational complexity, and reduced supply chain costs. To date, Piramal Pharma Solutions has successfully delivered more than 125 integrated programs, with many more currently underway.
Commitment to high-value services
Piramal Pharma Solutions' emphasis on high-value services has been instrumental in reaching this revenue milestone. The company's expertise in handling complex and high-potency projects has made it a preferred partner for pharma innovators looking to develop and commercialize new therapies. By offering a comprehensive suite of services that span the entire drug development lifecycle, PPS provides a one-stop solution for its customers, enhancing efficiency and accelerating the path to market.
Future growth and expansion
Looking ahead, Piramal aims to continue its growth trajectory by further expanding its capabilities and geographic reach. The company is committed to investing in state-of-the-art technologies and facilities to meet the evolving needs of its customers. By staying at the forefront of industry trends and maintaining a strong focus on innovation, the company is well-positioned to support the next generation of pharmaceutical advancements.
Generics with innovation programs
In conclusion, Piramal Pharma Solutions' achievement of surpassing revenue from generics with innovation programs marks a significant turning point for the company. With a robust growth strategy and a commitment to delivering high-quality, patient-centric solutions, the company is poised to play a crucial role in the future of pharmaceutical development and manufacturing.
Piramal offers end-to-end development and manufacturing solutions across the drug lifecycle. With a global footprint of 15 facilities and a comprehensive range of services, it partners with pharmaceutical companies to provide innovative solutions that enhance patient outcomes and drive commercial success.
