Investment expected to add GBP 3-5 million to global revenue
Piramal Healthcare UK has invested £2.0 million into Scotland to expand its manufacturing base at Grangemouth, to manufacture Antibody Drug Conjugates to global markets. This new investment into Scotland is expected yield additional revenue of £3-5 million over five years to Piramal Healthcare’s revenues.
The announcement was made by the First Minister 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, reportedly.
Last month’s launch of the industry-led Life and Chemical Sciences Manufacturing Strategy, intends to position Scotland as a globally competitive base for sustainable high-value manufacturing. Reportedly, Piramal Healthcare is a key element 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.
Nicola Sturgeon, First Minister said, “Piramal is a great example of an innovative company that is benefiting from the focus Scotland places on the life sciences sector, which employs around 33,000 people across the country. We have a thriving research and innovation led Life Sciences sector and Piramal is seeing the benefit of that as they manufacture products that are involved in the treatment of various types of cancer. I am delighted to be opening this new manufacturing suite and welcome Piramal’s continued commitment to Scotland.”
Piramal Healthcare Site Lead, Mark Wright said, “Piramal Healthcare UK 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 five years to maintain its position as a global leader in the production of antibody drug conjugates.”
Rooma Kumar Bussi, Country Director, Scottish Development International, India, said, “Scottish Development International has worked with Piramal Healthcare for a number of years to support their Scottish operations. I am truly delighted to see continued growth at Piramal’s Grangemouth facility in Scotland, which in turn supports their global markets. Scotland continues to maintain its position as the top UK region to attract FDI outside of London and this bears testimony to its world class talent and innovation landscape. Scotland has a thriving life sciences community and a close-knit business and academic ecosystem which presents tremendous supply chain opportunities to the pharma industry. Piramal’s presence in Scotland has played an integral role in cementing Scotland’s position as a location of choice for FDI and I look forward to working with the company as they expand their operations in Scotland.”