Hetero, a pharmaceutical company, announced that it had purchased Johnson & Johnson‘s Penjerla, Telangana, manufacturing facility and would be upgrading it with an extra Rs 600 crore.
The plant was purchased by the firm for Rs 130 crore, according to sources.
Hetero said in a statement that the 55.27-acre plant, which will be its flagship sterile pharmaceutical and biologics manufacturing unit, will create 2,000 new employment.
“We are committed to an investment upwards of USD 75 million, (approximately Rs 600 crore) to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products,” Hetero Managing Director Vamsi Krishna Bandi said.
