U.S based Amneal Pharma acquires India’s Punishka Healthcare for Rs 700 Cr
Amneal Pharmaceuticals today announced it has acquired Puniska Healthcare Pvt. Ltd. for $93 million (approximately Rs. 700 crore).
“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 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.
