Kiran Mazumdar-Shaw founded Biocon acquires Eywa Pharma's manufacturing unit for $7.7 million

Kiran Mazumdar-Shaw founded biopharmaceutical company Biocon said that its step-down, wholly-owned subsidiary, Biocon Generics Inc., has acquired Eywa Pharma Inc.’s oral solid dosage manufacturing facility for $7.7 million or Rs 63.6 crore.

According to the company's statement, The acquired oral solid dosage manufacturing facility is located in Cranbury, New Jersey, the United States.

As part of the acquisition, the existing workforce of the facility will transition to Biocon Generics Inc. The facility has a potential for capacity expansion up to 2 billion tablets/capsules per year, the company informed.

Siddharth Mittal, Managing Director and CEO, Biocon Limited said, “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.

Mittal said the acquisition will enable the company to add oral solid dosage capacities for its 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 added.

Biocon is a Bengaluru-based biopharmaceutical company that manufactures generic active pharmaceutical ingredients that are sold in approximately 120 countries, including the United States and Europe.

($1 = INR 82.72)

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