Humanwell Healthcare Group and PuraCap Pharmaceutical have agreed to acquire US-based Epic Pharma in a deal valued at $550m.
With this investment, Humanwell and PuraCap will expand their presence in the US generics market and existing commercial and manufacturing capabilities.
The deal includes Epic’s generic product portfolio which includes tablets, two-piece capsules and powder dosage form products, as well as a future product portfolio that will include a series of controlled drug substances.
Epic’s portfolio consists of 15 marketed generic products and a pipeline of 37 products.
The acquisition will also bring Epic’s 110,000ft² GMP manufacturing facility in Laurelton, New York, to the companies.
Humanwell Healthcare chairman Richard Wang said: "This acquisition continues to broaden our global investments consistent with our strategy for the creation of a truly global pharmaceutical company for Humanwell Healthcare Group."
Nearly 215 employees from Epic will join Humanwell and PuraCap’s US operations team.
PuraCap CEO Dahai Guo said: "In addition to strong and growing OTC and branded business units in the US, this acquisition along with our recent acquisition of Blu Pharmaceutical and Blu Carib firmly establishes Humanwell and PuraCap in the US Generic Rx Pharmaceutical segment.
"The PuraCap US footprint continues to expand our tablet, softgel, two-piece capsules, cream and powder product portfolio."
Subject to certain regulatory and shareholders’ approval, the acquisition is expected to be completed in the second quarter of this year.
Humanwell Healthcare currently invests, develops and manages healthcare companies.
PuraCap Pharmaceutical works in the areas of prescription brands and prescription generics, as well as OTC and private label brands.
Image: The acquisition of Epic Pharma includes a FDA and DEA inspected GMP manufacturing facility. Photo: courtesy of PRNewsFoto / PuraCap Pharmaceutical.