Humanwell Healthcare Group and PuraCap Pharmaceuticals announced that they would be acquiring 100% of Epic Pharma’s membership interests for $550 million. The purchase of the Laurelton, N.Y.-based company will expand the two businesses’ generics footprint and manufacturing capabilities in the United States.
Epic’s generics portfolio contains 15 products currently on the market and a 37-product pipeline. The acquisition will also bring the two companies a 110,000-sq. ft. GMP manufacturing facility and add 215 employees to Humanwell’s and PuraCap’s operations team.
“This acquisition is a major step in the growth of our company,” PuraCap CEO and Humanwell president Dahai Guo said. “The addition of Epic is an important addition to the PuraCap family. We look forward to it being a platform for the development of our generic pharmaceutical business, both in the USA as well as internationally.” The transaction is expected to close in the second quarter of 2016.