Hetero acquires manufacturing plant at Penjerla, to invest Rs 600 crore and create 2,000 jobs
Hyderabad: Hyderabad-headquartered pharma company Hetero said it acquired a manufacturing plant at Penjerla village of Kothur mandal in Mahbubnagar. The company committed an investment of about Rs.600 crore to upgrade and enhance the existing facilities at the site. This will add about 2,000 jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services. The […]
Hyderabad: Hyderabad-headquartered pharma company Hetero said it acquired a manufacturing plant at Penjerla village of Kothur mandal in Mahbubnagar. The company committed an investment of about Rs.600 crore to upgrade and enhance the existing facilities at the site. This will add about 2,000 jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services.
The plant is spread across 55.2 acres. The brownfield facility will be Hetero’s flagship sterile pharmaceutical and biologics manufacturing unit.
“We are committed to an investment upwards of $75 million, (approximately Rs 600 crore) to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products,” said Dr Vamsi Krishna Bandi, Managing Director, Hetero.
PwC acted as the financial advisor to Hetero on the acquisition of the Penjerla manufacturing facility together with the land, plant and machinery in a slump sale from Johnson & Johnson Private Limited. Hetero has been present for over 30 years and has interests in active pharmaceutical ingredients (API), global generics, biosimilars and custom pharmaceutical services. The company is among the largest producers of APIs in the world.
