Biocon Ltd, a prominent player in the biotechnology sector, has garnered attention with its acquisition of Eywa Pharma Inc's oral solid dosage manufacturing facility situated in Cranbury, New Jersey, USA. This strategic acquisition, executed through their wholly-owned subsidiary, Biocon Generics Inc, comes with a price tag of $7.7 million and holds promising prospects for substantial growth.
In an official filing with the exchange, Biocon underscored the facility's potential to expand its production capacity to a remarkable two billion tablets or capsules annually. Notably, this acquisition also entails a seamless transition of the existing workforce into the Biocon Generics Inc fold.
Siddharth Mittal, serving as the Managing Director and CEO of Biocon, expressed his excitement about this milestone. He highlighted that this acquisition represents Biocon's inaugural FDA-approved facility in the United States, poised to complement their existing manufacturing capabilities and fortify their presence within the US market.
Furthermore, Mittal accentuated the acceleration of Biocon's ability to manufacture oral solid dosage forms for new products, ahead of their originally planned schedule. This strategic move ensures a consistent supply chain by diversifying the company's manufacturing infrastructure. Mittal concluded by emphasizing their commitment to swiftly integrating the acquired facility and expanding their product portfolio in the region.
In an official filing with the exchange, Biocon underscored the facility's potential to expand its production capacity to a remarkable two billion tablets or capsules annually. Notably, this acquisition also entails a seamless transition of the existing workforce into the Biocon Generics Inc fold.
Siddharth Mittal, serving as the Managing Director and CEO of Biocon, expressed his excitement about this milestone. He highlighted that this acquisition represents Biocon's inaugural FDA-approved facility in the United States, poised to complement their existing manufacturing capabilities and fortify their presence within the US market.
Furthermore, Mittal accentuated the acceleration of Biocon's ability to manufacture oral solid dosage forms for new products, ahead of their originally planned schedule. This strategic move ensures a consistent supply chain by diversifying the company's manufacturing infrastructure. Mittal concluded by emphasizing their commitment to swiftly integrating the acquired facility and expanding their product portfolio in the region.
