Thursday, 19 May 2022

US-based Amneal Pharma acquires Punishka Healthcare for Rs 700 Cr

09 November 2021 | News

Amneal has built a large and growing presence in India through over $300 million of capital investments and acquisitions

Image credit: Shutterstock

Image credit: Shutterstock

US-based Amneal Pharmaceuticals has acquired Puniska Healthcare. The acquisition significantly enhances Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the US market and serve as a foundation for international markets.

Punishka acquisition has a total value of $93 million, or approximately Rs 700 crores. Dhinal Shah Associates served as an advisor to this transaction.

Punishka has a 293,000 square foot, a state-of-the-art manufacturing facility in Ahmedabad, with several sterile injectable production lines. Production capabilities include robotic, aseptic and lyophilize vial lines, emulsion lines, and large-volume parenteral bag lines.

The acquisition also brings to Amneal approximately 550 Punishka employees with key capabilities in injectables manufacturing, R&D and commercialisation.

Chirag and Chintu Patel, Co-Chief Executive Officers, Amneal Pharmaceuticals said “Punishka’s ability to manufacture high volume and complex products will enable Amneal to build on our robust portfolio and pipeline and contribute to the rapid growth in our injectables business, which we project will more than double by 2025.”

 

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