Biotechnology major Biocon said its unit has acquired Eywa Pharma Inc’s oral solid dosage manufacturing facility in the US for $7.7 million (over Rs 63 crore).
Biocon Generics Inc has acquired Eywa’s Cranbury-based plant effective September 1 2023, the Bengaluru-based company said in a statement.
The facility is acquired for a total consideration of USD 7.7 million, it added.
As part of the acquisition, the existing workforce of the facility will transition into Biocon Generics Inc.
The facility has the potential for capacity expansion of up to 2 billion tablets/capsules per year.
“The acquisition of this US FDA (US Food and Drug Administration) approved facility, our first in the US, will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the US,” Biocon Managing Director and CEO Siddharth Mittal said.
The acquisition will also enable the company to add oral solid dosage capacities for new products earlier than originally planned and ensure continuity of supply through the diversification of manufacturing infrastructure, he added.
“Our focus will be on integrating the acquired facility expeditiously and expanding our portfolio in the region,” Mittal said.
Source: Economic Times