Mumbai-based speciality drug maker Eurolife Healthcare has agreed to acquire the form-fill-seal infusion products business of Baxter India, the Indian unit of US infusion drugs major Baxter International for an undisclosed sum. The acquisition will allow Eurolife to consolidate its position as a prominent player in the form-fill-seal (FFS) infusions segment and expand its manufacturing capacity in this segment to meet the evolving needs of the domestic and global FFS infusion markets. FFS is a solution packing technology used in sterile manufacturing of liquid drugs and intravenous fluids with zero manual intervention. The deal will include the products and technology as well as manufacturing facilities and people.
Following the close of the transaction, Eurolife Healthcare will have a pan-India FFS Infusions manufacturing presence located in Maharashtra, Tamil Nadu and Uttarakhand. The expanded geographic footprint will also enable Eurolife to service its extensive local distribution network more efficiently and help substantially reduce time-to-market to distributors, hospitals and patients. Eurolife’s products are currently marketed in at least 22 countries in Asia – Pacific region, CIS and Latin America, through a vast export distribution network.
“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.”
said Sandeep Toshniwal, CEO of Eurolife Healthcare.
“We warmly welcome Baxter India’s employees and partners to the Eurolife family, and look forward to propelling Brand Eurolife to even higher levels together,” Toshniwal added.
The transaction is subject to customary closing conditions and is expected to close by the end of the year. Financial terms of the transaction are not being disclosed. Founded in 2001, Eurolife Healthcare had recently received an investment from leading healthcare investor Orbimed Advisors through minority stake divestment.
BW Reporters
Unnikrishnan is currently Senior Associate Editor with BW Businessworld at its Mumbai Bureau. During his two decades long journalistic career, he has received several media awards and recognitions. His articles on healthcare, life sciences and intellectual property rights (IPR) have been republished by several international blogs and journals.
