Puracap Pharma

Pharmaceuticals Puracap

Humanwell, PuraCap acquires Epic Pharma for $550 million The Humanwell Healthcare Group and PuraCap Pharmaceutical announced today that they have signed an agreement to purchase Epic Pharma for $550 million. Purchasers said the transaction will increase both their sales and production capacity as well as their visibility in the US generic markets. Both Humanwell and PuraCap said that the agreement is partially aligned to supplement PuraCap's current R&D activities by leveraging Epic's expertise in the manufacture and development of regulated pharmaceuticals and powders.

Under the terms of the transaction, the purchasers will purchase Epic's FDA and U.S. Drug Enforcement Agency approved production site of Epic, a 110,000 square feet plant in Laurelton, NY. That' will bring 215 additional staff to the Humanwell and PuraCap U.S. operations teams, the company said. "Epic's inclusion is an important complement to the PuraCap family," said Dahai Guo, PuraCap chief executive officer and Humanwell USA chief executive officer, in a declaration.

"We look forward to it being a premier stage for the growth of our generics franchise, both in the US and internationally." Enterprises said the transaction is anticipated to be completed in the second calendar quarter under the usual terms and circumstances, including the expiry of the qualifying periods under the Hart-Scott-Rodino Antitrust Improvements Act, the approvals of Humanwell shareholders and registration of certain government agencies in China.

Humanwell, headquartered in China, specialises in investment, development and management of health care businesses. The PuraCap supervises two companies: Pharmaceutical, focusing on branded ethical pharmaceuticals, and PuraCap International, which sells generic ethical pharmaceuticals, over-the-counter (OTC) pharmaceuticals and own branded products. The PuraCap International, a JV with the Dangdai International Group, was established just last weekend when PuraCap Pharmaceutical took over two more businesses, Blu Pharmaceutical and Blu Caribe, in a transaction previously signed on 24 March.

PuraCap's production capabilities beyond gelatine capsules to US and worldwide pharmaceutical tablets and capsular dosing systems. As part of the acquisition, PuraCap purchased a 145,000 sq ft GMP (CGMP) production plant in Dorado, Puerto Rico and a 185,000 sq ft storage and dispatch centre in Franklin, KY.

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