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Piramal Healthcare UK Ltd has invested £2.0 million (Rs 21 crore) into Scotland to expand its manufacturing base at Grangemouth, to manufacture antibody drug conjugates for global markets, a note from the company said.
This investment will add revenue of £3-5 million over five years to Piramal Healthcare’s revenues, it added.
The announcement was made by the First Minister Nicola Sturgeon at Piramal’s new facility, where up to 20 new high-skill job roles will be created, backed by £200,000 Regional Selective Assistance funding, the company said.
Last month’s launch of the industry-led Life and Chemical Sciences Manufacturing Strategy, positioned Scotland as a globally competitive base for sustainable high-value manufacturing. Piramal Healthcare is key to the antibody drug conjugate (ADC) hub in Scotland and this further expansion is testament to Scotland’s attractiveness as a life sciences manufacturing location, the note said.
Sturgeon said, “Piramal is a great example of an innovative company that is benefitting from the focus Scotland places on the life sciences sector, which employs around 33,000 people across the country.”
The note quoted Piramal Healthcare site lead, Mark Wright as saying, “Piramal Healthcare UK Ltd 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. ”
Country Director, Scottish Development International, India, Ms Rooma Kumar Bussi added that “Scottish Development International has worked with Piramal Healthcare for a number of years to support their Scottish operations.”
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