Piramal Enterprises’ subsidiary company -- Piramal Pharma (PPL) has entered into an agreement to acquire a 100% stake in Hemmo Pharmaceuticals (Hemmo) for an upfront consideration of Rs 775 crore and earn-outs linked to achievement of milestones. Consequent to this Acquisition, Hemmo would become a wholly owned subsidiary of PPL. Hemmo is one of India’s largest manufacturers of synthetic peptides with a legacy of more than thirty eight years in business supplying peptide products and custom peptide synthesis.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
