The facility was acquired for a total consideration of $7.7 million
Biocon announced that its step-down, wholly-owned subsidiary, Biocon Generics, has acquired Eywa Pharma’s oral solid dosage manufacturing facility, located in Cranbury, New Jersey, US, effective September 1, 2023.
The facility was acquired for a total consideration of $7.7 million. As part of the acquisition, the existing workforce of the facility will transition to Biocon Generics. The facility has the potential for capacity expansion up to two billion tablets/capsules per year.
Siddharth Mittal, MD and CEO, Biocon said, “The acquisition of this
US FDA approved facility, our first in the US, will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the US. The acquisition will also enable us to add oral solid dosage capacities for new products earlier than originally planned and ensure continuity of supply through the diversification of our manufacturing infrastructure.
Our focus will be on integrating the acquired facility expeditiously and expanding our portfolio in the region.”