New Delhi: On Wednesday, Biocon Limited, India's largest biopharmaceutical company, announced the opening of its inaugural U.S. manufacturing facility in Cranbury, New Jersey, through its wholly owned subsidiary, Biocon Generics Inc (BGI), as stated in an exchange filing.
Kiran Mazumdar-Shaw, Chairperson of the Biocon Group, remarked, "The inauguration of Biocon's first U.S. FDA approved formulations facility in New Jersey signifies a new phase in our global expansion journey. More than just a milestone, it reaffirms our commitment to serving patients wherever they may be. The presence of Governor Phil Murphy at the inauguration underscores the significance of Biocon's contribution to fostering innovation, generating job opportunities, and enhancing the U.S. healthcare ecosystem."
In 2023, Biocon acquired the Oral Solid Dosage (OSD) facility from Eywa Pharma Inc. and has since invested over USD 30 million to create a cutting-edge plant with an annual production capacity of 2 billion tablets. Several products have already been launched from this site, with many more in development. This investment enables Biocon to diversify its manufacturing capabilities, fortify its supply chain, and expedite the growth of its global presence.
Siddharth Mittal, Chief Executive Officer and Managing Director of Biocon Ltd, stated, "This strategic investment brings us closer to patients, healthcare providers, and partners in this vital market. Being in close proximity allows us to deliver our vertically integrated, high-quality medicines more effectively to patients across the United States and other regions, ensuring supply chain resilience and empowering us to further our mission of expanding access to affordable therapies globally."
The Cranbury facility signifies a significant progress for the Company's operations in the U.S., facilitating quicker access to vital healthcare services, which ultimately benefits patients throughout the United States.
"We are extremely thankful that Biocon has chosen to establish its inaugural U.S. manufacturing facility in the Garden State," stated Governor Murphy. "For many years, Biocon has delivered high-quality medications and treatments to millions of patients worldwide. This cutting-edge facility represents a pivotal moment in Biocon's global growth and strengthens New Jersey's standing as the medicine chest of the world."
