U.S based Amneal Pharmaceuticals acquires India’s global injectable firm Punishka Healthcare

0

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) (“Amneal” or the “Company”) today announced it has acquired Puniska Healthcare Pvt. Ltd. (“Puniska”). The acquisition significantly enhances Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the U.S. market and serve as a foundation for international markets.

Puniska includes a 293,000 square foot, state-of-the-art manufacturing facility in Ahmedabad, India, 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 U.S. 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.”

Puniska acquisition has a total value of $93 million, or approximately 700 crore rupees. Dhinal Shah Associates served as advisor to this transaction.

Amneal Continues to Invest and Expand in India

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 employees 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.