Piramal Enterprises Ltd's Pharma Solutions business, a contract development and manufacturing organization, on Saturday announced that it has entered into an agreement with G&W Laboratories Inc. to acquire its solid oral dosage drug product manufacturing facility located in Pennsylvania, USA, for $17.5 million.
The all-cash deal is subject to customary pre-closing conditions. According to the terms of the agreement, Piramal Enterprises, through one of its affiliates, would acquire at closing a 100% stake in the entity that operates the facility and owns the related real estate.
"This acquisition broadens the offering of Piramal Pharma Solutions (PPS) by adding solid oral dosage form capabilities (tablets and capsules) in North America. Until now, PPS’ capabilities in solid oral dosage forms were all located in the UK and India. The Sellersville site can also produce liquids, creams, and ointments, further expanding the PPS portfolio. The site also can support product and process development for solid oral dosage and oral liquids, including immediate release, modified release, chewable & sublingual solid oral dosage forms, solutions and suspensions in liquids," the company said in a statement.
The Sellersville site features dedicated manufacturing and packaging technologies for solid oral dosage forms, liquids, creams, and ointments; microbiology labs; preformulation and analytical development infrastructure coupled with a pilot lab for research and development; and a temperature-controlled warehouse. Piramal Pharma Solutions expects to further grow the site’s current strength to support development services as well as any COVID-19 management drug opportunities.
"Many of our customers are looking for US-based manufacturing partners to expand and support their pipeline. This acquisition strengthens our ability to partner with them on best-in-class drug products. It enhances our market-leading integrated services offering by adding a solid oral dosage capability in the US," said Peter DeYoung, chief executive officer at Piramal Pharma Solutions.