Eurolife Healthcare, a specialty drugmaker based in India, picked up the form-fill-seal infusion products unit of U.S.-based Baxter International for an undisclosed price.
The deal consolidates Eurolife’s position as a major player in the form-fill-sealed segment, BW Businessworld reported. The technology is used in sterile manufacturing of liquid drugs and intravenous fluids.
Under the terms of the acquisition, Eurolife gets the products and technology as well as Baxter’s facilities in India.
It’s expected the sale will be closed by the end of the year.
“Eurolife is totally committed to making significant investments in the acquired facilities, in order to expand capacity to feed our flourishing FFS infusions business both locally and globally,” Sandeep Toshniwal, Eurolife’s CEO, said in a statement.
Eurolife, based in Mumbai, was founded in 2001. With the Baxter agreement under its belt it will have manufacturing facilities in Maharashtra, Tamil Nadu and Uttarakhand. The company currently markets to 22 countries in Asia, the Pacific region and Latin America.