Piramal Enterprises Ltd.

The company has set ambitious goals to reduce absolute scope 1 and 2 GHG emissions by 42% by 2030. Credit: Gorodenkoff/Shutterstock. The Science Based Targets initiative (SBTi) has validated and approved India’s Piramal Pharma’s near-term greenhouse gas (GHG) emission reduction targets. The approval marks a significant milestone in the company’s sustainability journey, aligning with its ethos of “Doing Well and Doing Good.” The strategic move underscores Piramal Pharma’s dedication to making measurable and consistent progress toward a sustainable future. The company has set ambitious goals to reduce absolute scope 1 [produced from sources owned or controlled by a company] and scope 2 [produced as a consequence of a company’s activities] GHG emissions by 42% by 2030, using the financial year 2022 as the base year. Piramal Pharma also aims to decrease absolute scope 3 GHG emissions from sources including purchased goods and services, upstream transportation and distribution, activities related to fuel and energy and sold product usage by 25% within the same timeframe. See Also: Bicara Therapeutics closes $362m IPO in flurry of biotech listing activity MaxCyte and Kamau Therapeutics sign platform license agreement Piramal Pharma chairperson Nandini Piramal stated: “Sustainability is at the heart of our business strategy, and the approval from SBTi reinforces our ongoing commitment to reducing our GHG emissions and aligning with global climate action goals. “This is a critical step in our broader sustainability roadmap, and we are committed to doing our part in driving meaningful environmental change across the pharmaceutical industry. “To further reinforce our commitment, we are also in the process of developing a comprehensive carbon reduction plan, which will be unveiled soon.” With this commitment, Piramal Pharma becomes the third pharmaceutical company in India to have its emission reduction targets approved by the SBTi. The SBTi is a collaborative initiative that includes the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the United Nations Global Compact (UNGC) and the World Wide Fund (WWF). It assists companies in setting science-based targets to reduce emissions, providing a sustainable growth pathway.

DUBLIN--( BUSINESS WIRE )--The "Drug Discovery Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. The global market for Drug Discovery Services is estimated at US$48.6 Billion in 2023 and is projected to reach US$61.1 Billion by 2030, growing at a CAGR of 3.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The Medicinal Chemistry Services segment is on a significant growth trajectory, expected to reach US$31.6 billion by 2030 with a CAGR of 4%. The Biology Services segment is also anticipated to grow, albeit at a slower rate, with a 2.8% CAGR over the next seven years. The U.S. market is estimated at $12.9 billion in 2023, while China is forecasted to experience impressive growth with a 6.9% CAGR, reaching $14.1 billion by 2030. Other key regions, including Japan, Canada, Germany, and the Asia-Pacific, are also highlighted for their growth trends. The report features comprehensive market data, providing independent analysis of annual sales and market forecasts in US$ million from 2023 to 2030. It offers in-depth regional analysis, delivering detailed insights into key markets such as the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The report also includes company profiles of major players like Albany Molecular Research Inc., Charles River Laboratories International Inc., and Domainex, among others. This report is essential for those seeking a detailed market analysis of the Global Drug Discovery Services Market, covering major geographic regions and market segments. It provides competitive insights into the market presence of major players across different geographies and discusses future trends and drivers shaping the industry's future. The report also offers actionable insights that can help identify new revenue opportunities and support strategic business decisions. Additionally, complimentary updates are provided for one year to keep readers informed of the latest market developments. Key Questions Answered: How is the Global Drug Discovery Services Market expected to evolve by 2030? What are the main drivers and restraints affecting the market? Which market segments will grow the most over the forecast period? How will market shares for different regions and segments change by 2030? Who are the leading players in the market, and what are their prospects? Key Attributes: Report Attribute Details No. of Pages 89 Forecast Period 2023 - 2030 Estimated Market Value (USD) in 2023 $48.6 Billion Forecasted Market Value (USD) by 2030 $61.1 Billion Compound Annual Growth Rate 3.3% Regions Covered Global MARKET OVERVIEW Influencer Market Insights World Market Trajectories Global Economic Update Drug Discovery Services - Global Key Competitors Percentage Market Share in 2024 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E) FOCUS ON SELECT PLAYERS (Total 33 Featured) Albany Molecular Research Inc. Charles River Laboratories International Inc. Domainex Eurofins Scientific SE Evotec A.G. GenScript Biotech Corporation Jubilant Biosys Ltd. Laboratory Corporation of America Holdings Pharmaceutical Product Development LLC Piramal Enterprises Ltd. Selvita S.A. Thermo Fisher Scientific Inc. WuXi AppTec For more information about this report visit https://www.researchandmarkets.com/r/usdw54 About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

For the first time, revenue earned from innovation programs has surpassed that from generic projects. Over the past five years, Piramal has seen its innovation revenue rise from 35% of total revenue in FY19 to more than 50% in FY24, representing a Compound Annual Growth Rate (CAGR) of 20%. Commercial manufacturing This significant growth includes work performed for pharma innovator customers across discovery, development, and on-patent commercial manufacturing, spanning preclinical development through phases 1, 2, and 3. This pace far exceeds the overall growth rate of Piramal’s CDMO business. Peter DeYoung, chief executive officer of Piramal Pharma Solutions, said: “Achieving this threshold is a significant milestone in the company’s history. For many years, our organizational strategies and tactics have focused on building the expertise and capabilities required to fully support innovator work. This breakthrough validates our efforts and secures our position as an innovator CDMO that supports customers in their quest to bring new, patient-centric medicines to regulated markets around the world.” Innovative solutions driving success The impressive growth in innovation revenue aligns with Piramal’s success in delivering high-value services, including high potency active pharmaceutical ingredients (HPAPIs), antibody-drug conjugations, peptide APIs, sterile fill/finish, and integrated programs. These integrated programs, conducted across the company’s fifteen global sites, offer compelling value propositions to customers, such as reduced time-to-market, simplified operational complexity, and reduced supply chain costs. To date, Piramal Pharma Solutions has successfully delivered more than 125 integrated programs, with many more currently underway. googletag.cmd.push(function () { googletag.display('text-ad1'); }); Commitment to high-value services Piramal Pharma Solutions' emphasis on high-value services has been instrumental in reaching this revenue milestone. The company's expertise in handling complex and high-potency projects has made it a preferred partner for pharma innovators looking to develop and commercialize new therapies. By offering a comprehensive suite of services that span the entire drug development lifecycle, PPS provides a one-stop solution for its customers, enhancing efficiency and accelerating the path to market. Future growth and expansion Looking ahead, Piramal aims to continue its growth trajectory by further expanding its capabilities and geographic reach. The company is committed to investing in state-of-the-art technologies and facilities to meet the evolving needs of its customers. By staying at the forefront of industry trends and maintaining a strong focus on innovation, the company is well-positioned to support the next generation of pharmaceutical advancements. Generics with innovation programs In conclusion, Piramal Pharma Solutions' achievement of surpassing revenue from generics with innovation programs marks a significant turning point for the company. With a robust growth strategy and a commitment to delivering high-quality, patient-centric solutions, the company is poised to play a crucial role in the future of pharmaceutical development and manufacturing. Piramal offers end-to-end development and manufacturing solutions across the drug lifecycle. With a global footprint of 15 facilities and a comprehensive range of services, it partners with pharmaceutical companies to provide innovative solutions that enhance patient outcomes and drive commercial success.