/ -- Zentiva Group, a.s. announces the signing of a Business Transfer Agreement with Sanofi to acquire their manufacturing site in Ankleshwar, India. This acquisition will help ensure the continued supply of high-quality medicines to more patients by expanding the footprint and agility of Zentiva's manufacturing network.
"Expanding our network of Zentiva's wholly-owned manufacturing sites is a key factor in our future success, ensuring greater security of supply for people living in Europe and beyond. It enables us to innovate further to achieve operational excellence, enhance productivity and accelerate growth," said Nick Haggar, Chief Executive Officer of Zentiva. "We are strongly committed to the growth and success of the Ankleshwar team and operations. The site will be the largest in our network and the team in India will play a central role in the operations of Zentiva."
With demand for high quality and affordable medicines increasing, the acquisition reaffirms Zentiva's commitment to stand side-by-side with pharmacists, healthcare professionals and decision makers in improving access for patients.
Earlier in 2019, Zentiva enhanced its network with the acquisition of Solacium in Romania and Creo in the United Kingdom, as well as making multi-million Euro investments in Prague and Bucharest to maximize manufacturing capabilities.
* This transaction is subject to receipt of regulatory approvals, shareholders' approval and the completion of certain conditions as defined under the Business Transfer Agreement.
About Ankleshwar Manufacturing Site
Established in 1987, the site has a chemistry & biotechnology development centre, and manufactures both intermediates and pharmaceutical formulations. A large producer of tablets, the Ankleshwar site manufactures more than 6 billion tablets annually.
Zentiva is a producer of high-quality affordable medicines serving patients in Europe and beyond. With a dedicated team of more than 3,000 people and a network of production sites - including flagship sites in Prague and Bucharest Zentiva strives to be the champions of branded and generic medicines in Europe to better support people's daily healthcare needs.
At Zentiva it is our aspiration that healthcare should be a right and not a privilege. More than ever, people need better access to high quality affordable medicines and healthcare. We work in partnership with physicians, pharmacists, wholesalers, regulators and governments to provide the everyday solutions that we all depend on.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)