Centrient Pharmaceuticals to acquire Astral SteriTech, expanding its product portfolio with sterile injectable antibiotic finished dosage forms
Centrient Pharmaceuticals, 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, 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.
- 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
The acquisition of Astral SteriTech is an important step on Centrient’s journey to become the leading, diversiﬁed 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.