Home HEALTH Amneal Pharmaceuticals: US-based Amneal Pharmaceuticals buys India’s injectable maker Punishka Healthcare for...

Amneal Pharmaceuticals: US-based Amneal Pharmaceuticals buys India’s injectable maker Punishka Healthcare for Rs 700 crores

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Amneal Pharmaceuticals on Tuesday said it has acquired Ahmedabad-based injectable drug maker Puniska Healthcare Pvt. Ltd for a total value of around Rs 700 crore.

The acquisition is expected to significantly boost the New York Stock Exchange (NYSE) listed Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the US and international markets.

Puniska has a 293,000 square foot, state-of-the-art 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.

“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 of Amneal said in a release.

“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,” the release added.

Dhinal Shah Associates served as advisor to this transaction.

Amneal India expansion

Since establishing local operations in 2008, Amneal has built a large and growing presence in India through over $300 million of capital investments and acquisitions.

With Puniska, the company has more than 4,500 employees to support its core global manufacturing and R&D functions across eight facilities in India.

The US-based Amneal, established by NRI businessmen Chirag Patel and Chintu Patel, competes with Indian generic drug makers.

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