Biological E. Limited (BE), a city-based pharmaceuticals and biologics company on Monday announced the acquisition of Akorn India Limited, a subsidiary of Akorn Inc, USA, for an undisclosed sum.
By this strategic acquisition, BE will be able to enhance its manufacturing capabilities and capacities to produceand supply its vaccines and injectable medicines, a press release from the company said.
BE is in the process of developing a COVID-19 vaccine and may be able to use the facilities at Akorn India Paonta Sahib Plant in Himachal Pradesh for commercial scale manufacture of the vaccine at the appropriate time, it said.
The Akorn India plant has a fully staffed sterile injectable manufacturing facility with a 39,000 sq.mtrs of built-up area spread over a 14-acre campus with an annual capacity for about 135 Million Units with the potential for immediate expansion of a further 30 Million Units, it said.
Mahima Datla, Managing Director, Biological E. Limited, said “We are happy to have made a strategic investment in acquiring Akorn India. We would leverage BEs and Akorn India”s capabilities to enhance our supply capacities both in vaccines and in Generic Injectables.
“The timing of this acquisition is fortuitous as it will immediately allow us to expand our capacity to manufacture our investigational COVID-19 vaccine. With these capacities, we would be in a position to offer over 1 billion doses per annum.” – PTI