Ontario Government Invests $1.753M in Piramal Pharma’s Aurora Facility
Piramal Pharma Solutions (PPS), a contract development and manufacturing organization and subsidiary of Piramal Pharma Ltd (NSE: PPLPHARMA, BSE: 543635), announced that the Ontario government has provided a $1,753,620 investment through the Life Sciences Scale‑Up Fund (LSSUF) to support upgrades at its Aurora, Canada drug‑substance site. The provincial contribution is part of the LSSUF, a $24 million fund launched in 2024 and expanded by an additional $24 million in the 2026 Ontario budget to accelerate health‑innovation and domestic biomanufacturing.
PPS is committing $5,314,000 of its own capital to modernise the site’s infrastructure, aiming to enhance research‑and‑development, clinical API production and commercial availability of critical drug substances. The project is expected to create 12 new jobs and protect 183 existing positions, thereby strengthening Ontario’s competitiveness in the life‑sciences sector.
"We are grateful to the Government of Ontario and MPP Dawn Gallagher Murphy for their support of this important investment in our Aurora facility," said Peter DeYoung, CEO of Piramal Global Pharma. He added that the funding will enable upgrades, improve operational efficiency and support responsible manufacturing.
Dawn Gallagher Murphy, Member of Provincial Parliament for Newmarket—Aurora, stated that the LSSUF ensures Ontario businesses can develop and commercialise new health‑care technologies, creating good‑paying jobs and reinforcing the province’s status as a global biomanufacturing hub. Vic Fedeli, Minister of Economic Development, Job Creation and Trade, highlighted that the investment scales up domestic capacity and positions Ontario as a leading jurisdiction for life‑sciences investment.
The announcement also references Piramal Pharma Ltd’s broader portfolio, including its subsidiary Yapan Bio Private Limited for biologics manufacturing and its associate Abbvie Therapeutics India Private Limited, a joint venture with AbbVie that leads in ophthalmology therapies in India.