Humanwell Healthcare Group, a Chinese life sciences company, and PuraCap Pharmaceutical LLC, a South Plainfield, New Jersey pharmaceutical company, have agreed to acquire 100% of the membership interests of Epic Pharma, LLC of Laurelton, New York for $550 million. The acquisition will further establish Humanwell and PuraCap in the US generics market and expand their existing commercial and manufacturing capabilities.

The acquisition of Epic will provide a generic product portfolio that includes tablets, 2-piece capsules and powder dosage form products as well as a future product portfolio that will include a series of controlled drug substances. Epic’s portfolio currently consists of 15 marketed generic products and a pipeline of 37 products.

The Epic acquisition will also add a US Food and Drug Administration and US Drug Enforcement Agency inspected GMP manufacturing footprint of 110,000 square feet in Laurelton, New York, and result in the addition of 215 employees to the Humanwell and PuraCap US operations team.

The acquisition is subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, obtaining approval of Humanwell stockholders, obtaining various filing notices and registrations from certain governmental entities in the People’s Republic of China, and other customary conditions. The parties expect the transaction to close in the second quarter of 2016.

Source: PuraCap Pharmaceutical