April 2021

Acquisition of Hemmo Pharmaceutical by

Piramal Pharma

Exclusive Financial Advisor

to Piramal Pharma
Transaction Summary
SALIENT FEATURES
 Hemmo is one of India’s largest manufacturers of
synthetic peptides  Kotak was the exclusive
financial advisor to Piramal
 Legacy of more than 38 years in business of Pharma Ltd for its acquisition
supplying peptide products and custom of 100% stake in Hemmo
peptide synthesis
 Acquisition is being
 R&D capabilities and a world-class GMP undertaken for an upfront
manufacturing facility that has been inspected consideration of INR 775
and deemed compliant by US, EU, and Asian crores and earn-outs linked to
regulatory agencies achievement of milestones
 The acquisition will add peptide API development and  Piramal Pharma Ltd is the
manufacturing capabilities to Piramal’s integrated subsidiary of Piramal
drug substance and drug product offering
Enterprises Ltd with marquee
PE investor Carlyle being a
minority shareholder
Kotak has a successful track record of back to
back transactions in the post COVID world  Kotak provided end to end
M&A transaction advisory
 2021: Financial advisor to Cipla Group on the and support: Strategy,
proposed reorganisation of its India based US negotiation, structuring,
business undertaking and consumer business diligence, documentation,
undertaking overall transaction
management and support
 2020: Book Running Lead Manager for Gland
Pharma’s USD 904 mn IPO  A fast paced transaction - 6
months from launch to
 2020: Financial advisor to Signet for its 100% stake
signing) all within global Covid
sale to IMCD N.V.
19 related disruption
 2020: Financial advisor to a large pharma group on
Sale of all IP rights in India for its leading Indian OTC
brand

Strong Franchise in Pharmaceuticals Sector across M&A / IPO / PE