01 September 2021 | News
The transaction expands Centrient Pharmaceuticals’ portfolio with high-quality sterile injectable antibiotic finished dosage forms
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Centrient Pharmaceuticals has announced the completion of the acquisition of Vadodara-based Astral SteriTech.
With the addition of Astral SteriTech’s Semi-Synthetic Cephalosporin and Semi-Synthetic Penicillin sterile injectable finished dosage forms to Centrient’s product portfolio, the company can now further meet the needs of customers and reach more patients with its critical life-saving medicine.
“We look forward to the value it will create for both our companies, our customers and above all for patients around the world who need these life-saving antibiotics,” said Rex Clements, Chief Executive Officer, Centrient.
Dr Dushyant Patel, Chairman Emeritus, Astral SteriTech said, “With the closure of the transaction, Astral SteriTech becomes an integrated unit of Centrient, paving the way for blending Centrient’s vision and strategies for global success with Astral SteriTech’s strong fundamentals in the niche area. This will not only enhance the quality of our service to existing clients but also expand our business horizon.”
For the transaction, Barclays acted as the exclusive financial advisor and Sidley Austin LLP and Trilegal as legal advisors to Centrient Pharmaceuticals. JP Morgan acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co as legal advisor to Astral SteriTech.