“Biocon Expands US Footprint with $7.7 Million Acquisition of Eywa Pharma’s New Jersey Facility”
Biocon, a leading biotechnology company, has acquired Eywa Pharma’s oral solid dosage manufacturing facility in New Jersey, marking its first facility in the US and enhancing its production capacity.
Biocon Ltd, a prominent player in the biotechnology industry, has made a strategic move by acquiring Eywa Pharma Inc’s oral solid dosage manufacturing facility located in Cranbury, New Jersey, for a sum of $7.7 million. The acquisition was executed through Biocon’s wholly-owned subsidiary, Biocon Generics Inc.
In an official exchange filing, Biocon revealed that this facility in the United States possesses the potential for significant capacity expansion, with the capability to produce up to two billion tablets or capsules annually. This acquisition will see the workforce of the facility transition to Biocon Generics Inc.
Siddharth Mittal, Managing Director and CEO of Biocon, emphasized the significance of this acquisition, highlighting that it marks Biocon’s maiden foray into the US market. He stated, “The acquisition of this FDA-approved facility, our first in the US, will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the United States.”
Furthermore, Mittal explained that the strategic purchase will enable Biocon to accelerate the addition of oral solid dosage manufacturing capacity for new products, a move that aligns with the company’s commitment to ensuring a continuous supply chain through diversifying its manufacturing infrastructure. He emphasized, “Our focus will be on integrating the acquired facility expeditiously and expanding our portfolio in the region.”
This acquisition signifies Biocon’s dedication to expanding its presence in the US pharmaceutical market and reinforces the company’s commitment to innovation and diversification. With a strong track record in the biotechnology sector, Biocon aims to further enhance its global manufacturing capabilities and product offerings through strategic acquisitions and investments.
Biocon’s move into the US market aligns with its long-term growth strategy, positioning the company as a key player in the global biotechnology and pharmaceutical industry.
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