Biocon Generics acquires US facility for $7.7m, targets two billion tablet capacity
Biocon Limited, a global leader in the biopharmaceutical industry, has made a landmark announcement: its wholly-owned subsidiary, Biocon Generics Inc., has successfully acquired Eywa Pharma Inc.’s oral solid dosage manufacturing facility. Located in Cranbury, New Jersey, the acquisition became effective on September 1, 2023, with a total transaction value of $7.7 million. This marks Biocon Generics’ first U.S. acquisition and signifies a robust expansion into the U.S. pharmaceutical market.
As part of the acquisition deal, the existing workforce of the Cranbury facility will be integrated into Biocon Generics Inc. The facility boasts a potential for massive capacity expansion, with the ability to scale up to 2 billion tablets or capsules per annum. This acquisition is a strategic move to add to Biocon Generics’ existing manufacturing capabilities and considerably strengthen its U.S. presence.
Siddharth Mittal, the Managing Director and CEO of Biocon Limited, emphasized the acquisition’s strategic importance, stating, “The acquisition of this US FDA-approved facility will complement Biocon’s existing manufacturing capabilities and significantly bolster our foothold in the United States. The move also expedites our plans to add oral solid dosage capacities for new products and ensures supply continuity through diversified manufacturing infrastructure. Our immediate focus is on seamless integration of the acquired facility and portfolio expansion in the region.”
The acquisition not only provides Biocon Generics Inc. with an FDA-approved facility but also opens the doors for quicker than anticipated entry into the oral solid dosage market in the U.S. With this acquisition, Biocon Generics Inc. aims to rapidly scale its operations and offer a broader range of pharmaceutical products to the U.S. market.
For those keeping tabs on global pharmaceutical developments, this acquisition marks a significant milestone for Biocon Limited and its American aspirations. As the company integrates this new facility, the industry will keenly watch its next moves in portfolio expansion and manufacturing diversification in the U.S.