US-based Amneal Pharmaceuticals acquires India’s Punishka Healthcare for US$94 million

INDIA – Amneal Pharmaceuticals announced on Tuesday that it has acquired Ahmedabad-based injectable drug maker Puniska Healthcare Pvt. Ltd for approximately US $94 million (Rs 700 crore).

The acquisition is expected to significantly strengthen Amneals’ manufacturing infrastructure, capabilities, and capacity to support the US and international markets, which is listed on the New York Stock Exchange (NYSE).

Puniska has a 293,000-square-foot state-of-the-art manufacturing facility in Ahmedabad, complete with sterile injectable production lines.

Robotic, aseptic, and lyophilize vial lines, an emulsion line, and a large-volume parenteral bag line are among the production capabilities.

Amneal will also gain approximately 550 Puniska employees with key capabilities in injectables manufacturing, research and development, and commercialization as a result of the acquisition.

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 allow Amneal to expand on its strong portfolio and pipeline, as well as contribute to the rapid growth of the injectables business, which they expect to more than double by 2025.

Amneal’s growing presence in India

Since establishing local operations in 2008, Amneal has established a large and growing presence in India through capital investments and acquisitions totaling more than US$300 million (2,200 crore rupees).

Puniska employs over 4,500 talented employees to support the Company’s core global manufacturing and R&D functions across eight facilities in India.

This acquisition according to the company, demonstrates its commitment to and confidence in India as it continues to expand in the country and contribute meaningfully to local economies.

In other related news, Masco Group, a global provider of technological solutions for the pharmaceutical and biotech industries, has acquired a majority stake in KeyPlants AB, a Swedish company.

This acquisition will augment Masco’s leadership and strengthen its position in engineering technologies for life sciences.

It will also provide stronger value propositions for global supply chain challenges such as flexibility, reliability, and rapid manufacturing timelines to a global customer base of biopharmaceutical manufacturers and CDMOs focused on biologics, pharma, and advanced therapy medicinal products (ATMPs) such as cell and gene therapies.

We are extremely happy to partner with KeyPlants, as it will expand our capabilities, service and product offerings, and evolve our manufacturing capacity,” said Luca Borella, CEO of Masco Group.

“We look forward to working with them to further accelerate the global adoption of their innovative fast-track facility solutions, which are an essential aspect in the life science industry.” He added.

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