Orchid completes sale of injectables business to Hospira
This article was originally published in Scrip
Executive Summary
Orchid Chemicals and Pharmaceuticals has completed the sale and transfer of its generic injectable finished dosage business to Hospira Inc's Indian subsidiary. The transaction included Orchid’s betalactam injectable antibiotics manufacturing complex and formulations R&D facility at Irungattukottai, Chennai, and its generic injectable product portfolio and pipeline. About 450 Orchid employees are also expected to move to Hospira. Last December, Hospira had Orchid's injectables business for about $400 million, giving it a direct presence in India as also access to cost-effective production facilities for generic injectables, among other gains (scripnews.com, 17 December 2009).