Hetero buys Johnson -; Johnson Telangana plant for Rs 130 crore

18 Oct 2022 , 08:14 AM

Hetero, a pharmaceutical company, announced on Monday that it has purchased Johnson & Johnson’s Penjerla, Telangana, manufacturing facility and would be upgrading it with an extra Rs 600 crore.

The plant was purchased by the firm for Rs130 crore, according to news reports.

Hetero said in a statement that the 55.27-acre plant, which will be its flagship sterile pharmaceutical and biologics manufacturing unit, will create 2,000 new employment opportunities.

Hetero said that Johnson & Johnson Pvt Ltd was purchased in a slump sale together with the brownfield manufacturing site, land, plant, and equipment. The company did not disclose the purchase price. According to the statement, PwC served as the company’s only financial advisor.

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