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HomeBusinessHetero acquires manufacturing plant at Penjerla to make a way for 2,000 jobs

Hetero acquires manufacturing plant at Penjerla to make a way for 2,000 jobs

Hetero, the pharma company said it had acquired a manufacturing plant at Penjerla village of Kothur mandal in Mahbubnagar. The company is headquartered at Hyderabad. It committed an investment of about Rs 600 crore to intensify the present facilities at the site. This will be helpful to create two thousand jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering and ancillary services. The plant is spread across 55.2 acres. The brownfield facility will be Hetero’s flagship sterile pharmaceutical and biologics manufacturing unit.

The managing director of the company,Dr Vamsi Krishna Bandi said, “We have committed to an investment upwards of $75 million, (nearly Rs 600 crore) to sophisticate current facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products.”

On the acquisition of the Penjerla manufacturing facility together with the land, plant and machinery in a slump sale from Johnson & Johnson Private Limited. The company has been present for over 30 years and has interests in active pharmaceutical ingrediants (API), global generics, biosimilars and custom pharmaceutical services. Hetero is among the largest producers of APIs in the world.

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