US injectable generic drugs specialist Hospira (NYSE: HSP) has reached an agreement to acquire an active pharmaceutical ingredient (API) manufacturing facility, together with an associated R&D facility from India’s Orchid Chemicals & Pharmaceuticals (BSE: 524372), for around $200 million.
Acquisition of the modern, US Food and Drug Administration-approved facility is expected to reduce Hospira's costs, support continuity of supply of key antibiotic products and pave the way for future API development. Hospira previously acquired Chennai-based Orchid Chemicals generic injectable-drugs business for $400 million in 2009 (The Pharma Letter December 16, 2009).
"Our decision to acquire Orchid's world-class API facility demonstrates Hospira's continued dedication to the antibiotics space, enhancing cost-competitiveness and ensuring continuity of supply," said Bhaktavatsala Rao, managing director, Hospira India. "This is a top-of-the-line API manufacturing facility that has been recognized by industry leaders for its high standards," he added.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze