This acquisition will expand Piramal Pharma's product offerings by adding solid oral dosage form capabilities (tablets and capsules) in North America.
Piramal Enterprises Ltd's pharma solutions business entered into a pact with G&W Laboratories Inc to acquire its solid oral dosage drug manufacturing facility located at Sellersville in US for $17.5 million.
"According to the terms of the agreement, Piramal Enterprises Ltd, through one of its affiliates, would acquire 100 per cent stake in the entity that operates the facility and owns the related real estate," Piramal Pharma Solutions (PPS) said in a statement.
This acquisition will expand Piramal Pharma Solutions' product offerings by adding solid oral dosage form capabilities (tablets and capsules) in North America. Currently, PPS' capabilities in solid oral dosage forms are all located in the UK and India.
Peter DeYoung, Chief Executive Officer, Piramal Pharma Solutions, said: “Many of our customers are looking for US based manufacturing partners to expand and support their pipeline. This acquisition strengthens our ability to partner with them on best-in-class drug products. It enhances our market-leading integrated services offering by adding a solid oral dosage capability in the US.”