The US facility of Eywa Pharma is purchased by Biocon for $7.7 million

4 Sep 2023 , 10:21 AM

Biocon announced on Saturday that one of its units had purchased the oral solid dosage manufacturing plant of Eywa Pharma Inc. in the US for $7.7 million (more than Rs 63 crore).

With effect from September 1, 2023, Biocon Generics Inc. has bought Eywa’s Cranbury factory, according to a statement from the Bengaluru-based business.

The facility is being purchased for a total of USD 7.7 million, it continued.

The facility’s current staff will move into Biocon Generics Inc. as part of the transaction.

The plant has the capacity to increase to 2 billion tablets/capsules annually.

‘The acquisition of this US FDA (US Food and Drug Administration) approved facility, our first in the US, will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the US,’ said Siddharth Mittal, managing director and chief executive officer of Biocon.

He noted that by diversifying its manufacturing infrastructure, the acquisition would also allow the company to add oral solid dosage capacities for new products quicker than initially anticipated and guarantee supply continuity.

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