HQ Team
October 18, 2022: Hetero, an Indian pharmaceutical company, announced the acquisition of a brownfield manufacturing plant of Johnson & Johnson Private Ltd. in the southern state of Telangana.
The facility spread across 55.27 acres at Penjerla in the state “will be Hetero’s flagship sterile pharmaceutical and biologics manufacturing unit, bolstered by state-of-the-art technology,” according to a statement.
The acquisition reinforces Hetero’s commitment to expanding its reach and capabilities to respond with agility to the world’s evolving health needs and produce high-quality, affordable medicines.
$75 million investment
“We are committed to an investment upwards of US$75 million (approximately INR 600 Cr) to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products,” Dr Vamsi Krishna Bandi, Managing Director, Hetero, said.
PwC acted as the exclusive financial advisor to Hetero on the acquisition of the Penjerla manufacturing facility and the land, plant and machinery in a slump sale.
Hetero is engaged in research and development, manufacturing, and marketing chemical, generics and biologics medicines across diverse therapeutic areas.
Hetero’s strategic business areas spread across APIs, global generics, biosimilars and custom pharmaceutical services.
The company is among the largest producers of active pharmaceutical ingredients worldwide.
