04 September 2023 | News
With a focus on expanding the company's portfolio in the US
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Bengaluru-based biopharmaceutical company Biocon has announced that its step-down, wholly-owned subsidiary, Biocon Generics Inc., has acquired Eywa Pharma Inc.’s oral solid dosage manufacturing facility, located in Cranbury, New Jersey, US, effective 1st September, 2023.
The facility is 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 Inc. The facility has a potential for capacity expansion up to 2 billion tablets/capsules per year.
Siddharth Mittal, Managing Director and CEO, Biocon Limited 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 United States.
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.”