JnJ sells Telangana plant to Hetero for Rs 130 crore
The facility will be Hetero's flagship sterile pharmaceutical and biologics manufacturing unit and will generate 2,000 new jobs, Hetero said in a statement.
Telangana: Pharmaceuticals firm Hetero has announced that the company has acquired the manufacturing plant of Johnson & Johnson at Penjerla in Telangana and will invest additional Rs 600 crore on its upgradation.
According to sources, the company has acquired the plant for Rs 130 crore. The facility is spread across 55.27 acres and will be Hetero's flagship sterile pharmaceutical and biologics manufacturing unit and will generate 2,000 new jobs, the company said in a statement.
Hetero is an Indian pharmaceutical company headquartered in Hyderabad. The company was founded in 1993 by Dr. BPS Reddy. It operates the Generic Formulations businesses and Global Active Pharmaceutical business with the support of more than 36 manufacturing facilities, producing a vast range of APIs, and FDFs. The company's business consists of generics, APIs, biosimilars, branded generics, and custom pharmaceutical services.
Johnson & Johnson spread its root into India 70 years ago. The company is organized into three business segments: Consumer Healthcare, Medical Devices, and Pharmaceuticals. The company's products, across baby care, feminine hygiene, face care, OTC, oral care, and wound care, feature brands such as Johnson's Baby, Stayfree, Clean & Clear, Benadryl, Listerine, BAND-AID, and ORSL.
Read also: Hetero unveils new logo, corporate brand identity
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