INR 700 crore. According to the statement of Amneal, the purchase substantially strengthens its injectables production infrastructure, expertise, and capacity to service the US market as well as serve as a platform for global markets.
Puniska is headquartered in Ahmedabad and operates a 293,000-square-foot production plant with a variety of sterile injectable production lines. According to the company, its manufacturing capabilities include robotic, aseptic, and lyophilized vial lines, an emulsion line, and a high-volume parenteral bag line. According to Amneal, the purchase adds to the company roughly 550 Puniska staff with major competencies in injectables production, research and development, and commercialization.
Chirag and Chintu Patel, Co-Chief Executive Officers of Amneal, expressed hopes for the company’s growth. He said, “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”. The firm will shortly submit an application for a USFDA inspection of the Ahmedabad plant.
According to them, Puniska’s capacity to produce an abundance of complex pharmaceuticals will pave the way for Amneal to expand on its substantial portfolio and pipeline, as well as support the development of the injectables business, which they expect would more than double by 2025. Amneal currently runs eight production facilities in India, five units in Ahmedabad and one in Hyderabad, one in Visakhapatnam, and one in Dahej, Gujarat, which produces injectables, oral solids, and APIs.
According to Amneal, the Puniska deal is worth a total of USD 93 million, or nearly INR 700 crore rupees. The statement noted that Dhinal Shah Associates acted as the deal’s adviser. Amneal is a completely integrated pharmaceutical firm based in Bridgewater, New Jersey. The company specializes in the research, production, and marketing of generic and specialty pharmaceutical products. Additionally, through its specialty business, it promotes a line of branded pharmaceutical items.
