Syngene International, a subsidiary of Biocon Ltd., has decided to acquire a Unit 3 biologics manufacturing facility in Bengaluru from Stelis Biopharma Limited (SBL) on a slump sale basis for a gross value of ₹702 crore.
The deal, which is expected to close in 90 days, would include a commercial scale, high-speed, fill-finish unit–an essential capability for drug product manufacturing. The facility has the potential for future expansion of up to a further 20,000 liters of biologics drug substance manufacturing capacity, the company said in a statement.
The facility, which was initially built to manufacture Covid-19 vaccines, is now being repurposed to manufacture monoclonal antibodies and Syngene will further invest up to ₹100 crore to revalidate the facility, as per the company.
“This acquisition strengthens our growing position as a leading biologics contract development and manufacturing service provider and adds drug substance capacity and a drug product capability years earlier than our internal capex programme,” Jonathan Hunt, Managing Director and CEO, Syngene International said.
There was healthy demand for high quality biologics manufacturing capacity from sectors ranging from large pharma to emerging biotech companies, he further said. “We expect this new facility to be operational in 2024, following completion of a programme of facility upgrades and re-validation.”
For all the latest business News Click Here
