Biocon acquires Eywa Pharma’s New Jersey facility for $7.7 million

Biocon Ltd announced the acquisition of Eywa Pharma Inc’s solid oral drug manufacturing facility by its wholly owned subsidiary, Biocon Generics Inc, for $7.7 million.
The biotech giant said in an exchange document that the facility in Cranbury, New Jersey, US has the potential to expand capacity by up to two billion tablets or capsules per year. As part of the takeover, the plant’s workforce will be transferred to Biocon Generics Inc., the company said.
“The acquisition of this FDA-approved facility, our first in the United States, will complement existing manufacturing capabilities,” said Siddharth Mittal, CEO and CEO of Biocon. of Biocon and strengthen our presence in the United States.”
He also noted that the takeover will allow the company to add solid oral formulation capabilities to new products earlier than originally planned, thereby ensuring supply continuity through diversification. diversify the company’s production infrastructure. “We will focus on rapidly integrating acquired facilities and expanding our portfolio in the region,” Mittal said.