Intas Pharma, Accord signs agreement to buy Prothya Biosolutions
Ahmedabad: Accord Plasma B.V., a subsidiary of Intas Pharmaceuticals, has announced the execution of an agreement to acquire 100 percent of Prothya Biosolutions Belgium BV and each of its subsidiaries, a plasma-derived medicinal products (PDMP) business based primarily in the Netherlands and Belgium.
Subject to the satisfaction of customary closing conditions, including regulatory clearances, the deal is anticipated to close shortly.
As per the release, this proposed acquisition marks a significant step in Intas and Accord's long-standing ambition to establish a global presence in the PDMP market, expanding Intas's established leadership in India into a truly international footprint.
Prothya Biosolutions, with primary operations in Amsterdam and Brussels and plasma collection centres across Hungary, employs approximately 1,200 people. Formed in 2021 through the integration of Plasma Industries Belgium, originally linked to the Belgian Red Cross, and Sanquin Plasma Products, formerly a part of the Sanquin Blood Supply Foundation, Prothya brings over 60 years of experience in plasma collection and the development of PDMPs.
Binish Chudgar, Chairman of Intas & Accord, stated, "We are delighted to expand our plasma business through the acquisition of Prothya Biosolutions. Combined with our fractionation capabilities in India, this positions us to create a truly global plasma platform—serving patients worldwide with critical, often under-prescribed, therapies."
Intas's plasma division in India has been supplying hospitals with PDMPs since 2015, supported by an annual fractionation capacity of over 1 million litres and exports to multiple international markets. Additional capacity is due to come online with the expansion of Intas's Gujarat-based facility.
Nir Epstein, CEO of Prothya, commented, "Over the past four years, we've expanded into new markets, advanced critical therapies, established our own plasma collection network in Hungary, and supplied plasma derivatives to some of the world's leading PDMP companies—all while building a stronger, more resilient organization. I want to thank our dedicated team for their unwavering commitment to our patients. I believe Accord is the right company to support Prothya and its people in the next phase of growth and global expansion."
The global market for PDMPs—particularly IVIG (intravenous immunoglobulin)—is currently valued at $30 billion and is expected to reach $50 billion by 2035. This acquisition will give Intas access to significant additional fractionation capacity, supported by Accord's commercial footprint spanning 85 countries.
BofA Securities is acting as the exclusive financial advisor to Accord in this transaction.
Evercore is acting as the exclusive financial advisor to Prothya in this transaction.
