Amneal Pharma acquires injectable firm Punishka Healthcare for Rs 700 crores
The acquisition significantly enhances Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the US market
Amneal Pharmaceuticals has acquired Puniska Healthcare. The acquisition significantly enhances Amneal’s injectables manufacturing infrastructure, capabilities, and capacity to support the US market and serve as a foundation for international markets, informed the company.
Puniska includes a 293,000 square foot, manufacturing facility in Ahmedabad, India, with a number of sterile injectable production lines. Production capabilities include robotic, aseptic and lyophilized vial lines, emulsion lines, and a large-volume parenteral bag line. The acquisition also brings to Amneal approximately 550 Puniska employees with key capabilities in injectables manufacturing, R&D and commercialisation.
“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 US market and enables international expansion, including in India, as we look to become a leading player in the global injectables market. 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,” said Chirag and Chintu Patel, Co-CEOs. Puniska acquisition has a total value of $93 million, or approximately Rs 700 crore rupees. Dhinal Shah Associates served as advisor to this transaction.
Since establishing local operations in 2008, Amneal has built a large and growing presence in India through over $300 million, or over Rs 2,200 crores, of capital investments and acquisitions.