Comments
Biotechnology major Biocon said on Thursday that it has acquired a manufacturing unit of Vishakapatnam-based Acacia Lifesciences for an undisclosed amount.
The company has acquired business assets of the pharmaceutical manufacturing unit of Acacia Lifesciences with effect from October 1, on a going concern basis, Biocon said in a regulatory filing.
“This unit is presently manufacturing advanced intermediates of potent active pharma ingredients (APIs) useful to the company’s business as well as for supply to third party customers,” it added.
The US Food and Drug Administration (USFDA) approved facility would help the Bangalore-based company in vertically integrating its oncology related abbreviated new drug application (ANDA) filings in the future.
The facility, which is spread over 45,000 square feet, was commissioned in 2008 and currently APIs produced in the plant are sold both in domestic as well international markets.
Biocon shares today ended at Rs 447.60 apiece on the BSE, up 0.90 per cent from previous close.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.