Establishes an integrated global platform spanning biosimilar R&D, manufacturing and commercialization
Adds a major long-term growth pillar and extends Amneal’s growth profile into the 2030s
Amneal Pharmaceuticals, Inc. (“Amneal” or the “Company”) (NASDAQ: AMRX) today announced the completion of its acquisition of Kashiv BioSciences, LLC (“Kashiv”), creating a fully integrated global biosimilars leader with end-to-end capabilities across research, development, manufacturing and commercialization. The combination establishes one of the industry’s few fully integrated biosimilars platforms.
“The completion of this acquisition marks a pivotal step in Amneal’s strategy to become America’s #1 Affordable Medicines company,” said Chirag Patel, Co-Founder and Co-Chief Executive Officer. “With this acquisition, we have created an integrated biosimilars business that can launch multiple biosimilars each year and extends our growth profile into the next decade.”
“We are pleased to welcome the Kashiv team to Amneal and thank our shareholders and other stakeholders for their strong support,” said Chintu Patel, Co-Founder and Co-Chief Executive Officer. “This acquisition helps to position Amneal to capitalize on an unprecedented wave of biologic loss of exclusivity. Together, we will pursue this significant opportunity and work to expand patient access to high-quality, affordable biologic medicines.”
Strategic Combination
The acquisition combines Kashiv’s biologics research, development and manufacturing capabilities with Amneal’s commercial scale, establishing biosimilars as a major long-term growth pillar within the Company’s Affordable Medicines business. The transaction provides Amneal access to the global biosimilars market with more than $300 billion projected global biologics loss-of-exclusivity over the next decade. The combined portfolio is expected to support a consistent cadence of biosimilar launches for years to come.
Integration and Next Steps
The transaction builds on a relationship between Amneal and Kashiv spanning more than a decade, providing a strong foundation for integration. Integration planning and related activities are underway and are focused on combining the companies’ development and manufacturing capabilities and advancing the biosimilar pipeline.
Goldman Sachs & Co. LLC served as financial advisor and Richards, Layton & Finger, P.A. served as legal counsel to the Committee of Independent Directors of the Board of Directors. Simpson Thacher & Bartlett LLP served as legal counsel, among other financial and compliance advisors, to Amneal.
J.P. Morgan Securities LLC served as financial advisor, Holland & Knight LLP served as legal counsel, and Dhinal Shah Associates served as an advisor in India to Kashiv.