Hetero acquires manufacturing plant at Penjerla in Telangana
With the new facility, Hetero aims to boost its sterile pharmaceutical manufacturing capabilities, along with biosimilars and biologicsproduction, while generating 2000 new jobs.
City Air News
Oct 17, 2022 10:37
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Hyderabad, October17, 2022: Hetero, India’s leading pharmaceutical company with the widest global reach, today announced the acquisition of a brownfield manufacturing plant at Penjerla located in Telangana, India. The facility spread across 55.27 acres, will be Hetero’s flagship sterile pharmaceutical and biologics manufacturing unit, bolstered by state-of-the-art technology.
The acquisition reinforces Hetero’s renewed commitment to expand its reach and capabilities in order to respond with agility to the world’s evolving health needs and produce high-quality and affordable medicines.
Dr. Vamsi Krishna Bandi, Managing Director, Hetero, said: “We are committed to an investment upwards of US$75 million, (approximately INR 600 Cr) to upgrade and enhance existing facilities at the site andexpand manufacturingof our global biologics and sterile pharmaceutical products.”
With this facility, Hetero aims to add 2000 new jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services.
PwC acted as the exclusive financial advisor to Hetero on the acquisition of the Penjerla manufacturing facility together with the land, plant and machineryin a slump sale from Johnson & Johnson PrivateLimited.
