India's USV Reveals Investment Plans
Manufacturing Investments And A New Formulations Unit Will Target Europe
Indian firm USV plans to spend $56.4m on a new drug formulations unit in Vadodara and $11.3m to upgrade its existing API unit near Mumbai as it eyes expanded capacity and additional sales in Europe.
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Juta Pharma has received a positive opinion from the European Medicines Agency’s CHMP recommending granting a pan-European marketing authorization for its biosimilar pegfilgrastim, Grasustek.
Privately-owned Indian company USV is entering “the highly competitive German drug market” by acquiring local generics player Juta Pharma for an undisclosed fee. The German firm – which has “more than 50 marketing authorisations for generic drugs” – was part of Watson’s Arrow Group until a management buy-out in 2013.
USV is building on its play in Europe with the acquisition of Juta Pharma in Germany – a market that has been fostering generics alongside supporting innovative medicines.