Biocon Ltd, a prominent biotechnology company, has made headlines with its acquisition of Eywa Pharma Inc's oral solid dosage manufacturing facility in New Jersey's Cranbury, USA, through its wholly-owned subsidiary, Biocon Generics Inc. The acquisition comes at a price of $7.7 million and promises significant growth potential.
In an official exchange filing, Biocon emphasized that this facility has the capacity to be expanded to produce up to two billion tablets or capsules annually. This strategic move includes the smooth transition of the existing workforce to Biocon Generics Inc.
Siddharth Mittal, the Managing Director and CEO of Biocon, expressed his enthusiasm, stating that this acquisition marks their first FDA-approved facility in the United States. He believes it will complement Biocon's existing manufacturing capabilities and strengthen their presence in the US market.
In an official exchange filing, Biocon emphasized that this facility has the capacity to be expanded to produce up to two billion tablets or capsules annually. This strategic move includes the smooth transition of the existing workforce to Biocon Generics Inc.
Siddharth Mittal, the Managing Director and CEO of Biocon, expressed his enthusiasm, stating that this acquisition marks their first FDA-approved facility in the United States. He believes it will complement Biocon's existing manufacturing capabilities and strengthen their presence in the US market.
Additionally, Mittal emphasized that this acquisition will accelerate their ability to produce oral solid dosage forms for new products ahead of their original schedule, ensuring a consistent supply by diversifying their manufacturing infrastructure. He concluded by highlighting their focus on swiftly integrating the acquired facility and expanding their product portfolio in the region.
No comments:
Post a Comment