Piramal Healthcare UK invests 2 million pounds in Scotland

Piramal Healthcare UK today said it has invested 2 million pounds in Scotland to expand its manufacturing base at Grangemouth and develop antibody drug Conjugates for global markets.

Piramal's new facility will create up to 20 new high-skill jobs, backed by 2,00,000 pound regional selective assistance funding.

"We have invested 2 million pounds in Scotland to expand manufacturing base at Grangemouth, to manufacture antibody drug Conjugates for global markets. This new investment into Scotland will yield additional revenue of 3-5 million pounds over 5 years to the company", the company said in a statement here.

Scotland's First Minister Nicola Sturgeon said: "Piramal is a great example of an innovative company that is benefiting from the focus Scotland places on the life sciences sector, which employs around 33,000 people across the country. Piramal is seeing the benefit of that as they manufacture products that are involved in the treatment of various types of cancer.