Shares of Piramal Pharma Ltd climbed 2.81% to ₹217.96 in early trade on Monday after the company announced a $90 million investment to expand its manufacturing facilities in Lexington and Riverview in the United States. The stock opened at ₹214.00 and hit an intraday high of ₹218.85, compared to its previous close of ₹212.00.
The company said the expansion aligns with growing U.S. demand and the ongoing shift towards onshoring of critical drug supply chains. The Lexington facility will get an additional 24,000 square feet of sterile injectable manufacturing space and is expected to be ready by late 2027. Meanwhile, the Riverview facility is scheduled to be operational by the end of 2025.
The investment is part of Piramal Pharma’s strategic focus on its integrated antibody-drug conjugates (ADC) platform, enabling the manufacturing of GMP drug products within 12 months. This builds on the $470 million previously invested in the U.S., which has already created over 750 jobs across its sites.
The announcement comes at a time when U.S.-based drugmakers are rallying, driven by easing concerns over President Trump’s new executive order on drug pricing. Piramal Pharma is also awaiting clarity on possible tariff changes in the pharmaceutical sector.
In a regulatory update, the company also stated that the U.S. FDA has issued a Voluntary Action Indicated (VAI) classification after inspecting its Turbhe facility between February 11 and 17, 2025.
At the current price, the company’s market cap stands at ₹287.97 billion, with a day range of ₹214 to ₹218.85 and a one-year price range between ₹136.10 and ₹307.90.
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