Biocon acquires Eywa Pharma's US-based plant for $7.7M
Biocon acquired the US plant via its unit Biocon Generics Inc.
Biotechnology major 's unit has acquired Eywa Pharma Inc's oral solid dosage manufacturing facility in the United States for $7.7 million (over Rs 63 crore).
Biocon Generics Inc, the company's unit, has acquired Eywa's US plant, effective September 1, 2023, the Bengaluru-based company said in a statement. The facility has been acquired for a total consideration of $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 statement said.
"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," said Biocon's Managing Director and CEO, Siddharth Mittal, in the statement.
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," said Mittal.
Edited by Swetha Kannan
