Nandini Piramal, Chairperson, Piramal Pharma
As global drugmakers delay decision-making until there is greater policy certainty in the US, Piramal Pharma expects its network in the US, United Kingdom and India to hold it in good stead, when the air clears and clients take a call.
Piramal Pharma Chairperson Nandini Piramal told businessline, “decision making is prolonged” given the uncertainties including the US tariff announcement and pressure to onshore, among other things. There has been an increase in RFPS (request for proposals), but companies are holding out from deciding, until there is greater certainty, she said. “We have a very good network with capacity and capabilities inthe US, UK and in India. So once people decide where they want to be …we have that option available,” she said.
A spate of directives from the US President Donald Trump, including asking drugmakers to manufacture in the US and to price branded drugs on par with other developed markets, has cast a shadow of uncertainty on the pharma industry and contract development and manufacturing organisations (CDMO), many who have global drugmakers as clients.
Muted growth
While companies are still mapping the impact of multiple directives on the global pharmaceutical industry, Piramal said, she expected the next year to see “muted growth” because of the policy uncertainty and delayed decision-making, with a strong recovery coming in FY27.
Piramal Pharma ended the year March 31, 2025 with a revenue of ₹9,151 crore, up 12 per cent over last year’s revenues of ₹8,171 crore. And its CDMO business accounted for a lions share, at ₹5,447 crore, up 15 per cent over last year. Recently, the company had also commited to a $90 million investment plan towards expanding two of its US facilities.
“FY25 has been a steady year for the company as we crossed $1 billion in revenues with 12 per cent y-o-y (year-on-year) growth accompanied by 17 per cent EBITDA margin and 5x increase in net profits, in-line with our annual guidance,” she said, adding that the company was on track to becoming a $2 billion revenue company by FY 2030.
Published on May 15, 2025