Amneal Pharmaceuticals, Inc. on Tuesday announced it has acquired Puniska Healthcare Pvt. Ltd. for a total value of $93 million, or approximately Rs 700 crore.
The acquisition significantly enhances Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the US market and serve as a foundation for international markets.
Puniska includes a 2,93,000 square foot manufacturing facility in Ahmedabad, with a number of sterile injectable production lines. Production capabilities include robotic, aseptic and lyophilize vial lines, emulsion line, and large-volume parenteral bag line.
The acquisition also brings to Amneal approximately 550 Puniska employees with key capabilities in injectables manufacturing, R&D and commercialization.
“Today we are pleased to announce the acquisition of Puniska, and we welcome the Puniska team to the Amneal family. This acquisition is a pivotal step that meaningfully enhances our injectables capabilities for the US market and enables international expansion, including in India, as we look to become a leading player in the global injectables market,” said Chirag and Chintu Patel, Co-Chief Executive Officers.
“Puniska’s ability to manufacture high volume and complex products will enable Amneal to build on our robust portfolio and pipeline and contribute to the rapid growth in our injectables business, which we project will more than double by 2025.”
Since establishing local operations in 2008, Amneal has built a large and growing presence in India through over $300 million, or over 2,200 crore rupees, of capital investments and acquisitions. With Puniska, the Company employs more than 4,500 talented employees to support its core global manufacturing and R&D functions across eight facilities in India. This acquisition furthers the Company’s commitment to and underscores its confidence in India as it continues to expand in the country and make meaningful contributions to local economies.
About Amneal Pharma
Amneal Pharmaceuticals, Inc. is an American publicly traded generics and specialty pharmaceutical company. The company is headquartered in Bridgewater, New Jersey
In 2018, Amneal Pharmaceuticals LLC merged with Impax Laboratories, Inc. to form Amneal Pharmaceuticals, Inc. The FTC described the merger as having a value of US$1.45 billion, and required the companies to divest several marketed products and development projects as a condition of the approval.The merger was completed in May 2018, with shares of IPXL ceasing trading on NASDAQ on May 4 and shares of AMRX commencing trading on the NYSE on May 7. The company’s predecessor entity, privately held Impax Pharmaceuticals, Inc., was founded in 1995. Publicly traded Global Pharmaceutical Corporation and Impax Pharmaceuticals, Inc. completed a reverse merger, forming Impax Laboratories, Inc. on December 14, 1999.
Amneal’s Generics Division focuses on a broad range of therapeutic areas, including solid oral dosage products and alternative dosage form products.
The company’s Specialty Pharma Division is focused on the development of proprietary branded pharmaceutical products for the treatment of Central Nervous System disorders, Endocrine disorders and other select specialty segments. This division commercializes several branded pharmaceutical products, including Rytary, an extended release oral capsule formulation for the treatment of Parkinson’s disease, Unithroid, for treatment of hypothyroidism, Emverm, for treatment of certain gastrointestinal infections, and Zomig Nasal Spray, for the acute treatment of migraines.
As of July 2019, the company owned ten manufacturing sites and seven R&D sites in the United States, Ireland and India. In 2020, in response to the interest in chloroquine and hydroxychloroquine during the COVID-19 pandemic, and before the United States Food and Drug Administration’s emergency use authorization was withdrawn, Amneal ramped up production
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