Biopharma company Biocon’s wholly owned subsidiary, Biocon Generics, has acquired the oral solid dosage manufacturing facility of US-based Eywa Pharma Inc located in Cranbury, New Jersey for $7.7 million (Rs 63 crore). The acquisition is effective September 1.
The company stated that this facility in the US could further expand its capacity up to two billion tablets or capsules per year.
As part of the acquisition, the factory’s workforce will transition to Biocon Generics Inc.
Siddharth Mittal, the Managing Director and CEO of Biocon stated, “The acquisition of this USFDA-approved facility will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the United States. The acquisition will also enable us to add oral solid dosage capacities for new products earlier than originally planned and ensure supply continuity through diversifying our manufacturing infrastructure.”
This latest acquisition comes on the heels of Biocon’s expansion venture, as last year, its subsidiary, Biocon Biologics, successfully completed the acquisition of the global biosimilars business of its partner, Viatris Inc., in a deal worth $3.33 billion
First Published: Sep 02 2023 | 5:33 PM IST