 "Strides Shasun buys Perrigo's APIs facility in India for Rs 100 crore")
Strides Shasun Ltd has acquired the US-based Perrigo's APIs (active pharmaceutical ingredients) manufacturing facility in Ambernath (Maharashtra) for Rs 100 crore. The agreement to acquire the US FDA approved plant was signed by the company with Perrigo API India Pvt Ltd, which reported a turnover of Rs 73.76 crores for the financial year ended March 31, 2016.
Pursuant to the merger with Shasun Pharmaceutical Ltd in 2014, the company got access to two US FDA API facilities, which met its requirements for captive consumption and commodity APIs. To separate the commodity API business from integrated APIs, Strides Shasun recently hived off its commodity API business into a separate entity.
Strides Shasun will use Perrigo's Ambernath plant for captive consumption and will augment the company's resources to handle high velocity of new product development and commercial launches in the formulation portfolio.
The facility, with a potential capacity of 600 tonnes per year, had zero 483s during its last US FDA inspection. The company intends to transfer all the integrated DMFs filed for captive consumption to the acquired facility.
As per the agreement, Perrigo parent or affiliates will continue to source few products from Ambernath facility under a long term supply agreement.
“With this acquisition, we bring into our fold a manufacturing facility designed to handle multipurpose small batch productions and accelerates our time to market. This augurs well for the Strides' stated strategy of building a backward integrated portfolio of niche and small volume products for the regulated markets," commented Shashank Sinha, group CEO, Strides Shasun.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%