US-based Amneal Pharmaceuticals acquires India's Punishka Healthcare for Rs 700 crores
Nov 09, 2021
Bridgewater (New Jersey) [US], November 9 : The United States-based Amneal Pharmaceuticals on Tuesday announced that it has acquired India's Puniska Healthcare Pvt. Ltd. for a total value of USD 93 million (approximately 700 crore rupees).
As per the company release, the acquisition significantly enhances Amneal's injectables manufacturing infrastructure, capabilities, and capacity to support the U.S. market and serve as a foundation for international markets.
"Puniska includes a 293,000 square foot, a state-of-the-art manufacturing facility in Ahmedabad, India, with a number of sterile injectable production lines. Production capabilities include robotic, aseptic and lyophilizevial lines, emulsion line, and large-volume parenteral bag line. The acquisition also brings to Amneal approximately 550 Puniska employees with key capabilities in injectables manufacturing, R&D and commercialization," the release read.
Chirag and Chintu Patel, Co-Chief Executive Officers said, "Today we are pleased to announce the acquisition of Puniska, and we welcome the Puniska team to the Amneal family. This acquisition is a pivotal step that meaningfully enhances our injectables capabilities for the U.S. market and enables international expansion, including in India, as we look to become a leading player in the global injectables market."
"Puniska'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," they added.
Dhinal Shah Associates served as advisor to this transaction.
Since establishing local operations in 2008, Amneal has built a large and growing presence in India through over USD 300 million, or over 2,200 crore rupees, of capital investments and acquisitions.
As per the release, with Puniska, the company employees more than 4,500 talented employees to support its core global manufacturing and R&D functions across eight facilities in India.
