Rotterdam, the Netherlands, February 15th, 2021, Feb. 15, 2021 (GLOBE NEWSWIRE) —
- Further strengthens Centrient Pharmaceuticals' position as the global business–to–business industry leader in beta–lactam antibiotics
- Broadens Centrient Pharmaceuticals' product portfolio with sterile injectable Semi–Synthetic Cephalosporin and Semi–Synthetic Penicillin finished dosage forms, able to further meet the needs of customers in these segments and become a preferred partner for customers
- Brings in–house manufacturing capabilities for high–quality sterile antibiotic powder injectable finished dosage forms with two US FDA–approved production lines
Centrient Pharmaceuticals ("Centrient"), the business–to–business leader in sustainable, enzymatic antibiotics, next–generation statins and anti–fungals, today announced the signing of an agreement for the acquisition of Astral SteriTech Private Limited ("Astral SteriTech"), a leading international manufacturer specialised in sterile antibiotic injectable finished dosage forms. With the acquisition of Astral SteriTech, Centrient strengthens its position as the global business–to–business industry leader in beta–lactam antibiotics.
The acquisition of Astral SteriTech is an important step on Centrient's journey to become the leading, diversied and fully integrated partner to generics marketers.
The products offered by Astral SteriTech are sterile injectable finished dosage forms for Semi–Synthetic Cephalosporins and Semi–Synthetic Penicillins. Being close to Centrient's core products of beta–lactam antibiotics, the acquired product portfolio provides Centrient a diversification opportunity within the attractive growing niche segment of sterile injectable antibiotics.
With the broadened product portfolio, Centrient can further meet the needs of its customers in Semi–Synthetic Cephalosporin and Semi–Synthetic Penicillin finished dosage forms and become the preferred partner in these segments.
Astral SteriTech has a US FDA–approved manufacturing site with two manufacturing lines and serves customers in highly regulated markets like the United States and other regions such as South Asia.
The transaction is subject to customary regulatory approvals and closing conditions.
Rex Clements, CEO at Centrient said: "The acquisition of Astral SteriTech is a significant step forward on the journey we at Centrient have undertaken to become the preferred commercial partner to our customers in Semi–Synthetic Cephalosporin and Semi–Synthetic Penicillin antibiotics.
By broadening of our product portfolio and adding advanced manufacturing capabilities, we will strengthen the delivery of our value proposition of Quality, Reliability and Sustainability.
These finished dosage forms are critical medicines in healthcare but face increasing risks of supply shortage. At Centrient, we are committed to ensuring a sustainable supply of these products in healthcare, in line with our purpose to improve lives by being at the centre of sustainable and accessible healthcare."
Dr. Dushyant Patel, Chairman and Managing Director at Astral SteriTech said: "We are proud that with Astral SteriTech's core competencies and proven strong track record in sterile injectable Semi–Synthetic Cephalosporin and Semi–Synthetic Penicillin finished dosage forms, we can contribute to synergize and consolidate Centrient's antibiotics product portfolio, to support their geographical expansion agenda.
Centrient's vision and strategies for global success blended with Astral SteriTech's strong fundamentals in the niche area will not only enhance quality of service to existing clients but will help expand the business horizon."
For the transaction, Barclays acted as the exclusive financial advisor, and Sidley Austin LLP and Trilegal as legal advisors to Centrient Pharmaceuticals. J.P. Morgan acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co as legal advisor to Astral SteriTech.
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About Astral SteriTech Private Limited
Astral SteriTech is a leading international contract manufacturer specialized in sterile antibiotic powder injectable finished dosage forms.
Established as Astral Pharmaceutical Industries in 1991 by Dr. Dushyant Patel, current Chairman and Managing Director, and renamed into Astral SteriTech Private Limited in 2012, the company carved its niche as a preferred Contract and Development Manufacturing Organisation in the industry segment of sterile antibiotic injectable formulations. The company has a US FDA–approved manufacturing site with two dedicated manufacturing lines, located in Vadodara, Gujarat, India, and serves customers in high regulated markets like the United States and other regions such as South Asia.
The company's core competencies include advanced aseptic fill and finish technologies and processes, the highest quality standards supported by its robust Quality System, regulatory services along all product development stages, and extensive product development knowledge.
For more information on Astral SteriTech please visit www.astralsteritech.com.
About Centrient Pharmaceuticals
Centrient Pharmaceuticals is the global leader in the production and commercialisation of sustainable antibiotics, next–generation statins and anti–fungals. We produce and sell intermediates, active pharmaceutical ingredients and finished dosage forms.
We stand proudly at the centre of modern healthcare, as a maker of essential and life–saving medicines. With our commitment to Quality, Reliability and Sustainability at the heart of everything we do, our over 2200 employees work continuously to meet our customers' needs. We work towards a sustainable future by actively participating in the fight against antimicrobial resistance.
Founded 150 years ago as the "Nederlandsche Gist– en Spiritusfabriek', our company was known as Gist Brocades and more recently DSM Sinochem Pharmaceuticals. Headquartered in Rotterdam (Netherlands), we have production facilities and sales offices in China, India, the Netherlands, Spain, Egypt, the United States and Mexico. Centrient Pharmaceuticals is wholly owned by Bain Capital Private Equity, a leading global private investment firm.
For more information please visit www.centrient.com or contact Centrient Pharmaceuticals Corporate Communications, Alice Beijersbergen, Director Branding & Communications. E–Mail: alice.beijersbergen@centrient.com.
Forward–looking statements
This press release may contain forward–looking statements with respect to Centrient Pharmaceuticals' future financial
performance and position. Such statements are based on current expectations, estimates and projections of Centrient and information currently available to the company. Centrient cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. Centrient has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is governing.
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