LAKE FOREST, Ill. — Generic drug maker Hospira has acquired a manufacturing and research and development center from an Indian drug maker for $200 million, Hospira said Wednesday.
Hospira said it bought the Food and Drug Administration-approved active pharmaceutical ingredient factory and R&D facility in Aurangabad, India, from Orchid Chemicals and Pharmaceuticals, saying it would reduce Hospira's costs, support its supplying of antibiotics and pave the way for future API development.
"Our decision to acquire Orchid's world-class API facility demonstrates Hospira's continued dedication to the antibiotics space, enchanting cost-competitiveness and ensuring continuity of supply," Hospira India managing director C. Bhaktavatsala Rao said. "This is a top-of-the-line API manufacturing facility that has been recognized by industry leaders for its high standards. We look forward to welcoming our new colleagues from Orchid and leveraging their expertise to continue to bring high-quality, lower-cost products to patients around the world."