Piramal Enterprises Ltd's pharma solutions business on Saturday said it has entered into a pact with G&W Laboratories Inc to acquire its solid oral dosage drug product manufacturing facility at Sellersville in US for USD 17.5 million (over Rs 130 crore).
"According to the terms of the agreement, Piramal Enterprises Ltd, through one of its affiliates, would acquire...100 per cent stake in the entity that operates the facility and owns the related real estate," Piramal Pharma Solutions (PPS) said in a statement.
This acquisition broadens the offering of Piramal Pharma Solutions by adding solid oral dosage form capabilities in North America. Until now, its capabilities in solid oral dosage forms were all located in the UK and India, it added. "The Sellersville site can also produce liquids, creams, and ointments, further expanding the PPS portfolio," the statement said. The site has received certifications from the Food and Drug Administration (FDA) and European Medicines Agency (EMA), it added.
"Many of our customers are looking for US-based manufacturing partners to expand and support their pipeline. This acquisition strengthens our ability to partner with them on best-in-class drug products," PPS CEO Peter DeYoung said.
Piramal Pharma Solutions now offers solid oral drug product development and commercial manufacturing in all its major geographies, addressing a previously unmet customer need and strengthening its ability to work globally with customers to reduce the burden of disease on patients, he added.
The company expects to further grow the site's current strength to support development services as well as any COVID-19 management drug opportunities, the statement said.
