Biocon acquires Vishakhapatnam-based Acacia Lifesciences
The US Food and Drug Administration (USFDA) approved facility would help the Bangalore-based company in vertically integrating its oncology related abbreviated new drug application (ANDA) filings in the future.
Biotechnology major Biocon on Thursday said it has acquired a manufacturing unit of Vishakhapatnam- based Acacia Lifesciences for an undisclosed amount.
The company has acquired business assets of the pharmaceutical manufacturing unit of Acacia Lifesciences with effect from October 1, on a going concern basis, Biocon said in a regulatory filing.
"This unit is presently manufacturing advanced intermediates of potent active pharma ingredients (APIs) useful to the company's business as well as for supply to third party customers," it added.
The US Food and Drug Administration (USFDA) approved facility would help the Bangalore-based company in vertically integrating its oncology related abbreviated new drug application (ANDA) filings in the future.
The facility, which is spread over 45,000 square feet, was commissioned in 2008 and currently APIs produced in the plant are sold both in domestic as well international markets.
Biocon shares today ended at Rs 447.60 apiece on the BSE, up 0.90% from previous close.