Hetero acquires mfg plant in Telangana
Plans to add 2,000 new jobs, to invest Rs 600 cr to upgrade the facility
image for illustrative purpose
Hyderabad: The city-based pharmaceutical company, Hetero on Monday announced the acquisition of brownfield manufacturing plant from Johnson & Johnson Private Limited in a slump sale.
The facility located at Penjerla in Telangana is spread across 55.27 acres, which will be Hetero's flagship sterile pharmaceutical and biologics manufacturing unit.
With this facility, Hetero aims to add 2,000 new jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services.
"We are committed to an investment of around Rs 600 crore to upgrade and enhance the existing facility at the site and expand manufacturing of our global biologics and sterile pharmaceutical products," said Dr Vamsi Krishna Bandi, MD of Hetero.
PwC acted as the exclusive financial advisor to the drug maker on the acquisition of the Penjerla manufacturing facility along with the land, plant and machinery in a slump sale from Johnson & Johnson Private Limited.
The acquisition reinforces Hetero's commitment to expand its reach and capabilities in order to respond to the world's evolving health needs and produce high-quality and affordable medicines, the pharma company said.
