Strides Sha­sun ac­quires Per­rigo’s US FDA ap­proved API fa­cil­ity in In­dia

BioSpectrum (India) - - Bio News -

Ben­galuru-based phar­ma­ceu­ti­cal com­pany Strides Sha­sun Lim­ited has signed an agree­ment to ac­quire the

en­tire share­hold­ing in Ma­ha­rash­tra-based Per­rigo API In­dia for Rs 1,000 mil­lion.

Per­rigo API In­dia got ac­cess to two US FDA AOI fa­cil­i­ties hav­ing a com­bi­na­tion of ac­tive phar­ma­ceu­ti­cal in­gre­di­ent (API) for cap­tive con­sump­tion and com­mod­ity APIs. Post-merger with Sha­sun Phar­ma­ceu­ti­cal Lim­ited in 2014, the com­pany has sig­nif­i­cantly scaled up its API prac­tice through up­grade of in­fra­struc­ture and qual­ity stan­dards with a fo­cus on build­ing a port­fo­lio of back­ward in­te­grated small mol­e­cules and cater­ing to high en­try bar­rier mar­kets of Japan and South Ko­rea.

Un­der the terms of agree­ment, Strides Sha­sun will ac­quire 100 per cent of the is­sued cap­i­tal of Per­rigo API In­dia. Also, Per­rigo par­ent or af­fil­i­ates will con­tinue to source few prod­ucts from the fa­cil­ity un­der a long-term sup­ply agree­ment.

Per­rigo API In­dia’s fa­cil­ity brings into the fold a US FDA ap­proved API fa­cil­ity lo­cated at Am­ber­nath, Ma­ha­rash­tra, to be used for cap­tive con­sump­tion and will aug­ment the com­pany’s re­sources to han­dle high ve­loc­ity of new prod­uct de­vel­op­ment and com­mer­cial launches in the for­mu­la­tions port­fo­lio. The fa­cil­ity with a po­ten­tial ca­pac­ity of 600 tons per year had zero 483s during its last US FDA in­spec­tion.

Com­ment­ing on the de­vel­op­ment, Shashank Sinha, Group CEO of Strides Sha­sun stated, “With this ac­qui­si­tion, we bring into our fold a man­u­fac­tur­ing fa­cil­ity de­signed to han­dle mul­tipur­pose small batch pro­duc­tions and ac­cel­er­ates our time to mar­ket. This au­gurs well for the Strides’ stated strat­egy of build­ing a back­ward in­te­grated port­fo­lio of niche and small vol­ume prod­ucts for the reg­u­lated mar­kets.”

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