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Rubicon Research has completed the acquisition of Alkem Laboratories’ formulations manufacturing facility in Pithampur, Madhya Pradesh in an all-cash deal for Rs. 149 crore.
The acquired facility, located in the Special Economic Zone at Pithampur, Madhya Pradesh, is equipped to manufacture steroids, hormones, and high-potency products, including immunosuppressants and oncology medications. The facility was inspected by the US Food and Drug Administration (FDA) in 2022. With a built-up area of more than 16,000 sq. m. and total plot area of more than 1,25,000 sq. m., the site has potential for future expansion.
Besides capacity expansion, the addition of a third formulations manufacturing location strengthens Rubicon’s supply chain and adds new manufacturing capabilities for Rubicon in segments like steroids, hormones, and high-potency products.
Parag Sancheti, chief executive officer, Rubicon Research highlighted the importance of this acquisition saying, “This acquisition supports our strategy of expanding our US market presence and complements our development efforts to grow our portfolio of specialty products and drug device combination products. The Pithampur facility increases our ability to manufacture products for regulated markets at scale through a resilient supply chain”
“As mentioned in our DRHP, our two existing manufacturing facilities in Maharashtra as well as our R&D facilities in India and Canada are also US FDA inspected,” said the company communication note.
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