Piramal to acquire US-based G&W Laboratories' manufacturing facility in US
BusinessToday.In June 20, 2020
Piramal Enterprises Ltd's pharma solutions business has entered a pact with G&W Laboratories to acquire its solid oral dosage product manufacturing facility in US' Sellersville for over Rs 130 crore. "According to the terms of the agreement, Piramal Enterprises, 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) stated.
This site has received valid certifications from the Food and Drug Administration (FDA) as well as the European Medicines Agency (EMA). The latest Sellersville acquisition widens the offering of Piramal Pharma solutions in North America by adding solid oral dosage form capabilities.
Before this acquisition, its capabilities in solid oral dosage forms were located in the UK and India. The PPS statement further reads that the Sellersville plant is also capable of producing liquids, creams and ointments, thus, further expanding the PPS portfolio. Piramal Pharma Solutions CEO Peter DeYoung said, "Many of our customers are looking for US-based manufacturing plants to expand and support their pipeline. This acquisition strengthens our ability to partner with them on best-in-class drug products."
He added that Piramal Pharma solutions now offers solid oral drug product development and commercial manufacturing in all its major markets, thereby, addressing an unmet customer need and emboldening its ability to work with customers on a global scale to reduce the burden of disease on patients.
The company statement also mentioned how the company looks forward to further increasing the site's current strength for support development services and any COVID-19 management drug opportunities.
(With inputs from PTI)