Centrient Pharmaceuticals announces completion of acquisition of Astral SteriTech
Transaction expands Centrient Pharmaceuticals’ portfolio with high-quality sterile injectable antibiotic finished dosage forms
- The acquisition of Astral SteriTech has been completed on August 31
- Further strengthens Centrient Pharmaceuticals’ position as the global business-to-business industry leader in beta-lactam antibiotics
- Astral SteriTech brings in-house manufacturing capabilities for high-quality sterile antibiotic powder injectable finished dosage forms with two US FDA-approved production lines
- With its broadened product portfolio now including sterile injectable Semi-Synthetic Cephalosporin and Semi-Synthetic Penicillin finished dosage forms, Centrient can further meet the needs of customers in these segments and become a preferred partner for customers
Centrient Pharmaceuticals (“Centrient”), the business-to-business leader in sustainable, enzymatic antibiotics, next-generation statins and anti-fungals, today announced the completion of the acquisition of Astral SteriTech Private Limited (“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.
After obtaining the required customary regulatory approvals and meeting the closing conditions, Centrient’s acquisition of Astral SteriTech has been completed. With the broadened combined product portfolio, Centrient can now further meet the needs of customers in Semi-Synthetic Cephalosporin and Semi-Synthetic Penicillin finished dosage forms (FDFs) and become their preferred commercial partner in these segments.
Being close to Centrient’s core products of beta-lactam antibiotics, the acquired product portfolio allows Centrient to diversify into the attractive growing niche segment of sterile injectable antibiotics. The broadened product portfolio as well as Astral SteriTech’s advanced in-house manufacturing capabilities and two US-FDA approved production lines, allow Centrient to further strengthen the delivery of its value proposition of Quality, Reliability and Sustainability in finished dosage forms.
Astral SteriTech’s Semi-Synthetic Cephalosporin and Semi-Synthetic Penicillin finished dosage forms are critical medicines in healthcare but face increasing risks of supply shortage. With a relentless focus on its purpose to improve lives by being at the centre of sustainable and accessible healthcare, Centrient is committed to ensuring a sustainable supply of these essential medicine.
“We are very pleased to complete this important transaction. We look forward to the value it will create for both our companies, our customers and above all for patients around the world who are in need of these life-saving antibiotics,” said Rex Clements, Chief Executive Officer at Centrient.
“With Astral SteriTech complementing our already frontrunning antibiotics business, our combined portfolio becomes even more diverse and covers a broad range of beta-lactam antibiotic APIs and FDFs including sterile injectables.
We are excited to welcome our Astral SteriTech colleagues to Centrient as we work together to deliver on our purpose to improve and save the lives of people around the world.”
Dr. Dushyant Patel, Chairman Emeritus of Astral SteriTech said:
“Upon acquisition by Centrient, Astral SteriTech has found an outstanding new home. The work to consolidate Centrient’s antibiotics product portfolio and create synergies can now begin, as well as the execution of our joint geographical expansion agenda.
Astral SteriTech’s core competencies and proven strong track record in sterile injectable Semi-Synthetic Cephalosporin and Semi-Synthetic Penicillin finished dosage forms will be instrumental to Centrient’s strategic objectives.
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. J.P. Morgan acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co as legal advisor to Astral SteriTech.