Amneal Pharmaceuticals, a US-based pharmaceutical company, has announced its intention to invest $150-200m in India over the coming four to five years to establish two new production sites in Ahmedabad, the largest city in Gujarat. The sites will produce weight loss drugs, which have gained traction since Ozempic was launched into the mainstream in the past few years.
The company has partnered with the American biotech company Metsera to set up these plants. According to Amneal, this collaboration and the incentives from the Gujarat government could increase the project’s overall value to $250-300m.
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As part of the partnership, Amneal will support some product development activities for Metsera such as drug manufacturing, product formulation and drug-device development.
One of the two facilities will specialise in peptide synthesis, while the other will utilise the advanced sterile fill-finish manufacturing process.
Chirag Patel and Chintu Patel, brothers, co-founders and co-CEOs of Amneal Pharmaceuticals, said that with the new facilities, they “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.”
The firm began its activities in India in 2008 and presently operates from 8 production facilities, with 5 located in Ahmedabad, along with extra locations in Dahej, Hyderabad, and Vizag, and business premises in Mumbai. Over the past ten years, the company has invested about $600m in India.
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