Hospira completes Orchid acquisition

LAKE FOREST, Ill. Hospira has completed its $400 million acquisition of the generic injectables business of Orchid Chemicals & Pharmaceuticals, the generic drug maker announced Tuesday.

“We are excited to acquire new capabilities that will create opportunities for commercial growth, position us strongly in a key antibiotics product area, expand our global footprint and enhance our ability to provide lower-cost, high-quality products to patients,” Hospira COO Terry Kearney said. “We’re also excited to welcome a talented base of 450 employees, including newly appointed managing director [for] Hospira India, Dr. C.B. Rao, who joins us with a wealth of diversified industrial and management experience, and will provide continuity of leadership for the Orchid team joining Hospira.”

The acquisition, announced in February, includes Orchid’s beta-lactam antibiotic formuatlions manufacturing complex — comprising penicillin, cephalosporin and carbapenem facilities — and a pharmaceutical research and development facility in Irungattukottai, Chennai.