Piramal Enterprises Ltd Pharmacy Solution vertical declared the acquisition of G&W laboratories Inc. operated solid oral dosage drug product manufacturing unit located in Pennsylvania, USA for about $17.5 million. Piramal is a contract development and manufacturing organization.
The deal will be an all-cash agreement which 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.
As per the statement of the company, “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 Sellersville site comprises of 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. The firm aims to strengthen the site’s current capabilities to enable development services and Covid-19 management drug opportunities.
Peter DeYoung, chief executive officer at Piramal Pharma Solutions stated, “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.“