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US-headquartered pharma player Amneal Pharmaceuticals Inc announced acquisition of Ahmedabad-based injectibles company, Puniska Healthcare Pvt Ltd.
The deal, which is valued at $93 million (approx ₹700 crore), will enhance Amneal’s injectibles manufacturing capabilities in India and will also support its US market.
Speaking to BusinessLine , Sanjay Kumar Jain, President (India Operations), Amneal, said, “Amneal wants to expand its business in the injectibles space. We already have multiple products approved and also in the pipeline. We got this readily available facility for us and will help us to immediately start our commercial manufacturing post USFDA approval without having to wait for a few years to set up a similar facility.”
The company will file for the USFDA inspection of the Ahmedabad facility soon.
This increases Amneal’s presence in India to eight plants, five around Ahmedabad, one each in Hyderabad, Vishakhapatnam and Dahej, Gujarat for injectibles, oral solids and API manufacturing.
Headquartered in Bridgewater, NJ, Amneal is a fully-integrated pharmaceutical company focused on the development, manufacturing and distribution of generic and specialty drug products. It also markets a portfolio of branded pharmaceutical products through its Specialty segment.
Puniska’s Ahmedabad facility includes 293,000 square foot, state-of-the-art manufacturing facility with a number of sterile injectable production lines.
Production capabilities include robotic, aseptic and lyophilizevial lines, emulsion line, and large-volume parenteral bag line.
The acquisition also brings to Amneal approximately 550 Puniska employees with key capabilities in injectables manufacturing, R&D and commercialisation.
New portfolio
Puniska’s ability to manufacture high volume and complex products will enable Amneal to build on its robust portfolio and pipeline and contribute to the rapid growth in the injectables business.
Ahmedabad-based Dhinal Shah Associates served as advisor to this transaction.
Since starting operations in 2008, Amneal has built a large presence in India through over $300 million, or over ₹2,200 crore of capital investments and acquisitions.
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