HQ Team
September 6, 2023: Biocon Ltd., an Indian biopharmaceutical company, has acquired Eywa Pharma Inc., an oral solid dosage manufacturing facility in the US for $7.7 million.
The facility, located in Cranbury, New Jersey, makes tablets, capsules and oral suspensions. The acquisition, carried out by wholly-owned subsidiary, Biocon Generics Inc., is effective from September 1.
As part of the acquisition, the existing workforce of the facility will transition to Biocon Generics. The facility has the potential for capacity expansion of up to two billion tablets and capsules every year.
“The acquisition of this US FDA approved facility, our first in the U.S., will complement Biocon’s existing manufacturing capabilities and strengthen our foothold in the United States,” said Siddharth Mittal, managing director and CEO of Biocon.
“The acquisition will also enable us to add oral solid dosage capacities for new products earlier than originally planned and ensure continuity of supply through the diversification of our manufacturing infrastructure.
“Our focus will be on integrating the acquired facility expeditiously and expanding our portfolio in the region,” he said in a statement.
Eywa has also established a state- of- the- art facility for the development of Solid Oral Dosage forms at Ticel Bio Park, Chennai, India.
“This facility has pilot-scale manufacturing capabilities,” according to a company statement.
The market for drug formulations is projected to grow at a CAGR of 6.1 % globally, according to Precedence Research. The total market size of the formulations is forecast at $2.95 trillion by 2032.
