India Pharma Outlook Team | Tuesday, 18 August 2026
CDMO platform expansion is gaining momentum at Piramal Pharma as the company takes majority control of Yapan Bio.
Piramal Pharma has acquired an additional 40.67 per cent stake for Rs 76 crore, raising its ownership from 33.33 per cent to 74 per cent.
The transaction turns Yapan Bio into a subsidiary and strengthens Piramal Pharma’s capabilities in vaccine and biologics development.
Yapan operates as a specialized CDMO focused on process development, characterization and Phase I/II GMP manufacturing.
Its capabilities cover vaccines and complex biologics. The deal also strengthens Piramal Pharma’s large-molecule manufacturing capabilities and expands its integrated CDMO platform for advanced therapies and clinical-stage programs.
Piramal Pharma has increased its stake in Yapan Bio from 33.33 per cent to 74 per cent. The company acquired 1, 46,400 equity shares with a face value of Rs 10 each for approximately Rs 76 crore. Yapan will now operate as a subsidiary instead of an associate company.
The transaction gives Piramal Pharma greater control over Yapan’s CDMO services. It also allows the company to integrate Yapan’s large-molecule capabilities more closely with its existing pharmaceutical development and manufacturing network.
Piramal Pharma previously held a strategic minority investment in Yapan. Its FY2026 annual report identified Yapan as a company operating in the biologics, bio-therapeutics and vaccine segments.
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Yapan operates as a vaccine CDMO with expertise in process development, characterisation and GMP manufacturing. Its services cover programmes from development through Phase I and Phase II clinical manufacturing.
The acquisition therefore strengthens Piramal Pharma’s vaccine manufacturing capabilities while adding specialised experience in biologics. Yapan’s operations support the development and scale-up of complex biological products for human clinical trials.
This capability can complement Piramal Pharma’s wider pharmaceutical CDMO network, which provides development and manufacturing services to pharmaceutical and biotechnology customers globally. Piramal Pharma Solutions accounted for 55 per cent of Piramal Pharma’s revenue in FY2026 and supported more than 500 global customers.
The Yapan transaction also deepens Piramal Pharma’s biologics CDMO capabilities. Yapan focuses on vaccines and biologics or biotherapeutics, giving Piramal Pharma greater exposure to complex large-molecule programs.
The move strengthens the company’s large-molecule CDMO offering at a time when biopharma companies increasingly outsource development and manufacturing activities. Yapan’s process development and GMP manufacturing capabilities can support customers as programs progress toward clinical trials. The acquisition also gives Piramal Pharma greater control over the manufacturing capabilities that Yapan already contributes to its network.
Yapan recorded Rs 26.91 crore in revenue from operations in FY2024. Revenue increased to Rs 54.40 crore in FY2025 before reaching Rs 26.34 crore in FY2026, according to the transaction disclosure.
The numbers highlight the operating scale of the business that Piramal Pharma is bringing under majority ownership. The company can now integrate Yapan more closely into its broader CDMO platform and leverage its vaccine and biologics capabilities across customer programs.
Piramal Pharma’s wider CDMO business also continues to expand. The company reported stronger RFP activity and order inflows in H2 FY2026, supported by a 75 per cent year-on-year increase in US biopharma funding during the period.
The acquisition strengthens Piramal Pharma’s biologics manufacturing and large-molecule capabilities while complementing its existing expertise across APIs, sterile injectables, peptides and antibody-drug conjugates.
For Piramal Pharma, majority ownership of Yapan creates a more integrated route for developing and manufacturing complex biologics. It also strengthens the company’s ability to offer customers broader CDMO services across different stages of drug development.
