Industry ranking
The average time for PIRAMAL HEALTHCARE UK LIMITED to pay invoices has been increasing steadily over the past five periods, from 43 days in the first period (Jan 2018 - Jun 2018) to 71 days in the most recent period (Jan 2021 - Jun 2021). This represents a 65.1% increase in the average time to pay over the past three years.
The volatility of PIRAMAL HEALTHCARE UK LIMITED's payment patterns can be seen in the significant changes in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. The company has experienced a decrease in the percentage of invoices paid within 30 days from 21% in the first period to 3% in the most recent period, while the percentage of invoices paid later than 60 days has increased from 17% to 50% during the same time frame.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2023 - 30 Jun 2023 | 19 Jul 2023 | 67 | 76% | 11% | 13% | 71% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 63 | 75% | 15% | 10% | 73% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Aug 2022 | 76 | 5% | 38% | 57% | 35% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 71 | 3% | 45% | 50% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 56 | 5% | 62% | 32% | 3% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 52 | 7% | 63% | 29% | 1% |
| 01 Jul 2019 - 31 Dec 2019 | 20 Jan 2020 | 55 | 9% | 62% | 29% | 94% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 50 | 8% | 71% | 21% | 97% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 47 | 18% | 67% | 15% | 86% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 43 | 21% | 62% | 17% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms vary across the business depending on the nature of the supply and the geographical location of the supplier. The majority of our customers are paid at the end of the month following the date of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
75
Disputes are resolved directly between the supplier and the person responsible for ordering the materials. Given we are in a highly regulated environment the quality of materials supplied is paramount. Disputes are rarely escalated beyond the two parties.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Piramal Healthcare UK Limited is a UK subsidiary within the Piramal Pharma Solutions group, a global contract development and manufacturing organisation (CDMO). The wider group provides end-to-end drug discovery, development and manufacturing services, covering drug substance and drug product work, antibody drug conjugates, peptides, vaccines and biologics, for pharmaceutical and biotech clients worldwide. The group operates facilities across North America, Europe and Asia, including sites in the UK. As part of this international network, the UK entity supports the group's manufacturing and development operations, contributing to Piramal's broader pharmaceutical services business rather than trading independently under its own separate consumer-facing brand.
Generated from the company's website and Companies House records. Sources: piramalpharmasolutions.com