Piramal acquires Coldstream
January 30, 2015: The leading Indian pharmaceutical giant Piramal, has once again created news in the health sector. Its most recent stint has been acquiring Coldstream, a manufacturing plant in the USA, which specializes in the production of sterile injectable preparations.
Coldstream is a fairly young setup, established in 2007, by the University of Kentucky, and managed by the University of Kentucky Research Foundation. Coldstream undertakes various contract manufacturing assignments for several pharmaceutical organizations, and focuses on getting samples organized for the conduction of clinical trials. Of late, it has been exploring the production of sterile liquids, injectables, and parenteral products on a commercial scale, which includes complex intermediate steps such as lyophilization and milling. Specialty products including antibody conjugates and cytotoxic, anticancer drugs are also manufactured by Coldstream. Their FDA approved set up is in Lexington, in the state of Kentucky.
Piramal has acquired Coldstream for a whopping sum of US $31 million, and plans to put this acquisition to good use, by continuing with the manufacture of sterile injectables, but on a larger scale.
Piramal has an existing database of manufacturing facilities and an impressive range of parenteral products, and now, its production output will now be further increased by this recent acquisition.
Mr. Vivek Sharma, the CEO of Piramal Enterprise stated that the prime reason for them buying out Coldstream, was due to their superior quality of product output in a reasonably short span of time, along with the speed at which it has attracted various pharmaceutical organizations and built a customer portfolio in a remarkably quick period of it being in operation.
Mr. Bill Wedlake, the President of Piramal Enterprise elaborated on Coldstream’s patented Isolator Technology, which is a boon, when it comes to confining the manufacture of potent and cytotoxic drugs in a safe, enclosed environment. Needless to say, Coldstream will soon prove to be a valuable and profitable purchase.
Dr. Jay Shinde