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Tablet maker Granules India has entered into an agreement to acquire Auctus Pharma, a manufacturer of Active Pharmaceutical Ingredients (APIs), for Rs 120 crore.
"The acquisition of Auctus fits into our strategy of being a fully integrated manufacturer, while diversifying our product portfolio by adding high-value products with significant market demand. Auctus provides Granules with a meaningful API platform with a US FDA approved site to strengthen our finished dosage division,’ Krishna Prasad, Managing Director of Granules India, said in a release issued on Monday.
Auctus manufacturing units
Hyderabad-based Auctus has two manufacturing facilities, an API facility at Pharmacity in Visakhapatnam and an Intermediate facility in Hyderabad. The API facility has approvals from leading regulatory agencies, including the US FDA.
Auctus’ product portfolio includes 12 APIs as well as key intermediates of those APIs.
Auctus product portfolio
The portfolio includes APIs in several therapeutic categories such as Antihistaminic, Antihypertensive, Antithrombotic and Anticonvulsant as well as other therapeutic categories.
Auctus currently sells its APIs and intermediates to customers in 50 countries. The team and assets from the acquisition will initially operate as a separate division with Granules.
The acquisition process would be completed in the next three to six months, the Hyderabad-based company said in the release.
R&D unit in Hyderabad
Granules also announced the opening of a 10,000 sq. ft. R&D facility in Hyderabad.
The new R&D unit will focus on full-scale generic API development and will supplement the company’s existing R&D facility in Pune which currently focuses on sustainable technology development.
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