US-based Amneal Pharmaceuticals acquires Puniska Healthcare for Rs 700 cr

Amneal on Tuesday said it has acquired the Ahmedabad-based drug firm

US-based Amneal Pharmaceuticals Inc on Tuesday said it has acquired Ahmedabad-based drug firm Puniska Healthcare Pvt Ltd for a total value of around Rs 700 crore.

The acquisition significantly enhances Amneal's injectables manufacturing infrastructure, capabilities, and capacity to support the US market and serve as a foundation for international markets, the company said in a statement.

Puniska includes a 293,000 square foot, manufacturing facility in Ahmedabad, with a number of sterile injectable production lines. Production capabilities include robotic, aseptic and lyophilize vial lines, emulsion line, and large-volume parenteral bag line, it added.

The acquisition also brings to the company approximately 550 Puniska employees with key capabilities in injectables manufacturing, R&D and commercialisation, Amneal said.

"This acquisition is a pivotal step that meaningfully enhances our injectables capabilities for the US market and enables international expansion, including in India, as we look to become a leading player in the global injectables market, Amneal Co-Chief Executive Officers Chirag and Chintu Patel said.

Puniska's ability to manufacture high volume and complex products will enable Amneal to build on its robust portfolio and pipeline and contribute to the rapid growth in injectables business, which it projects will more than double by 2025, they added.

Puniska acquisition has a total value of USD 93 million, or around Rs 700 crore rupees, Amneal said. Dhinal Shah Associates served as advisor to this transaction, it added.