Latest investment to support the development and supply of next-generation of branded medicines for obesity and metabolic diseases, including GLP-1 and amylin receptor agonists
Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX) (“Amneal” or the Company”), a global pharmaceutical company based in the U.S., today announced that it will build two new state-of-the-art manufacturing facilities in Ahmedabad, expanding the Company’s longstanding presence and innovation capabilities in India.
Founded in 2002 by Chirag and Chintu Patel in New Jersey, Amneal is a global, diversified pharmaceutical company that manufactures in the U.S., India and Ireland. The Company established and has been growing its operations in India since 2008, where it has eight manufacturing sites, including five in Ahmedabad with additional sites in Dahej, Hyderabad and Vizag, and commercial offices in Mumbai. The Company has the industry’s #1 quality track record and a diverse and complex portfolio of more than 280 commercial products across Retail, Injectables, Biosimilars and Specialty – all supported by its leading global R&D and manufacturing capabilities.
In this latest expansion in India, Amneal will make a total net investment of between USD$150 million and $200 million over the next four to five years to build two new greenfield facilities – one for peptide synthesis and one for advanced sterile fill-finish manufacturing. Combined with Amneal’s existing manufacturing network, the Company will develop and supply a portfolio of next-generation branded medicines for metabolic diseases and obesity, including GLP-1 and amylin receptor agonists, in collaboration with Metsera.
“Two decades after our founding, Amneal has grown into one of the world’s most innovative and trusted pharmaceutical companies that develops, manufactures and supplies essential medicines. We have made meaningful strategic investments over the years to bolster our world-class R&D capabilities, production capacity and commercial infrastructure in India and globally. With these new facilities, we are proud to be at the forefront of developing and manufacturing innovative, branded medicines at scale in India, which will supply the local market and the rest of the world,” said Chirag and Chintu Patel, Co-Founders and Co-Chief Executive Officers.
Key highlights about Amneal’s operations in India include:
· Amneal is investing USD$150 million to $200 million for the two new facilities in Ahmedabad and has invested approximately USD$600 million in India over the past 10 years. Amneal’s eight existing manufacturing facilities in India include four dedicated to injectables; two dedicated to active pharmaceutical ingredients; and two dedicated to oral solid dosage products. These facilities have tremendous capacity, collectively producing up to approximately 60 million units of injectables and 8.5 billion tablets annually. The USD$600 million in India investments to date reflects capital investments, acquisitions, and research and development related investments.
· Amneal is proud to have more than 5,500 talented team members in India dedicated to key functions including research and development, regulatory, manufacturing and supply chain. The Company’s new facilities and investment will create additional advanced manufacturing and R&D jobs. People are the heart of everything Amneal does, and team members are family. Amneal’s culture is built on empowering team members in India and around the world to do the best work of their careers and ensuring that people feel supported through every stage of the employee lifecycle.
· Amneal is deeply committed to providing innovative medicines in India. Over the past two years, Amneal has expanded its pharmaceutical portfolio for India to include hospital critical care, ophthalmology, diagnostics and specialty, including neurology and rare diseases, and oncology products. With the Metsera collaboration, the Company plans to introduce new products for metabolic diseases and obesity for Indian patients. Amneal continues to develop a customized innovative portfolio for the India market.
Additional information regarding Amneal’s strategic collaboration with Metsera is available here.