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PRNewswire
Mumbai (Maharashtra) [India], September 30: Piramal Pharma Solutions ("PPS"), a leading global Contract Development and Manufacturing Organization (CDMO) and part of Piramal Pharma Ltd. ("PPL") (NSE: PPLPHARMA) (BSE: 543635), today announced that its Aurora, Canada drug substance site has received a $1,753,620 investment from the Ontario government through the Life Sciences Scale-Up Fund (LSSUF), enabling PPS to upgrade site infrastructure and commercialize Ontario-made health technologies for new markets. - Piramal Pharma Solutions is investing over $5.3 million in its Aurora drug substance facility to upgrade site infrastructure. - With its investment through the Life Sciences Scale-Up Fund, the Ontario government is supporting healthcare innovation and reinforcing its province's leadership position in the life sciences. - This project will create 12 new jobs and protect 183 existing positions, unlocking new market opportunities and strengthening the sector's competitiveness. With support from the government of Ontario, Piramal Pharma is investing $5,314,000 to upgrade site infrastructure at their Aurora facility, strengthening Ontario's pharmaceutical manufacturing and bolstering domestic production of APIs. This project will enhance R&D and clinical API production, ensure the commercial availability of critical drug substances, and support a resilient and globally competitive life sciences industry in Ontario. The investment will create 12 new jobs and protect 183 existing positions. "We are grateful to the Government of Ontario and MPP Dawn Gallagher Murphy for their support of this important investment in our Aurora facility," said Peter DeYoung, CEO, Piramal Global Pharma. "This funding will help enable Piramal Pharma Solutions to upgrade our site infrastructure, strengthen our manufacturing capabilities, and enhance our ability to serve patients and customers around the world. In addition to supporting business growth, this investment will help advance projects focused on sustainability, operational efficiency, and the modernization of our site, reinforcing our commitment to responsible manufacturing and environmental stewardship. "Through the Life Sciences Scale-Up Fund, our government is ensuring that Ontario businesses are positioned to develop, commercialize and deploy new technologies across the health-care system," said Dawn Gallagher Murphy, Member of Provincial Parliament for NewmarketAurora. "With this investment, Piramal will be positioned to turn their latest ideas into market-ready solutions, all while creating good-paying jobs and reinforcing Ontario's position as a global biomanufacturing and life sciences hub." First launched in 2024, the $24 million LSSUF works in tandem with the government's Health Innovation Pathway to advance the objectives of Phase 2 of Ontario's Life Sciences Strategy and strengthen Ontario's position as a global leader in health innovation. Building on the fund's initial success, the 2026 Ontario Budget invested an additional $24 million to support Ontario companies whose work will accelerate the adoption of innovative technologies in the health-care system and support the province's broader vision of providing connected, convenient care closer to home. "Ontario's life sciences sector plays a critical role in supporting the discovery and development of innovative medicines and technologies, which is why our government is proud to support local companies as they take their Ontario-made products to the next level," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. "By investing in Piramal through the Life Sciences Scale-Up Fund, we are scaling up our province's domestic capacity while further positioning Ontario as a leading jurisdiction for life sciences investment for generations to come." By investing in the Aurora site, the Ontario government is strengthening Ontario's leadership in the life sciences and helping PPS advance next-generation technologies to patients worldwide. About Piramal Pharma Solutions Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) offering end-to-end development and manufacturing solutions across the drug life cycle. We serve our customers through a globally integrated network of facilities in North America, Europe, and Asia. This enables us to offer a comprehensive range of services including drug discovery solutions, process and pharmaceutical development services, clinical trial supplies, commercial supply of APIs, and finished dosage forms. We also offer specialized services such as the development and manufacture of highly potent APIs, antibody-drug conjugations, sterile fill/finish, peptide products and services, and potent solid oral drug products. PPS also offers development and manufacturing services for biologics including vaccines and gene therapies, made possible through Piramal Pharma Limited's subsidiary, Yapan Bio Private Limited. For more information visit: Piramal Pharma Solutions | LinkedIn| Facebook | X About Piramal Pharma Limited Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing 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 complex hospital generics business; and the Piramal Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. For more information, visit: Piramal Pharma | LinkedIn (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same.)
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