Hospira completes acquisition of Orchid's generic injectables business
Gains new manufacturing capabilities and expands global reach
Hospira has completed its US$400m takeover of the dosage forms business of Orchid Chemicals & Pharmaceuticals of India.
Terry Kearney, Hospira’s chief operating officer, said the firm has acquired new capabilities that will create opportunities for commercial growth, position it strongly in a key antibiotics product area, expand its global footprint and enhance its ability to provide lower-cost, high-quality products to patients.
‘We're also excited to welcome a talented base of 450 employees, including newly appointed managing director, Hospira India, Dr C B Rao, who joins us with a wealth of diversified industrial and management experience, and will provide continuity of leadership for the Orchid team joining Hospira.’
Rao will report directly to Kearney.
The acquisition includes Orchid's beta-lactam antibiotic formulations manufacturing complex (comprising cephalosporin, penicillin and carbapenem facilities) and pharmaceutical r&d facility at Irungattukottai, Chennai, as well as its generic injectable dosage-form product portfolio and pipeline.
In addition, the companies have signed a long-term agreement for Orchid to supply active pharmaceutical ingredients (APIs) for the acquired generic injectable pharmaceuticals business.
