Humanwell Healthcare Group and PuraCap Pharmaceutical to acquire Epic Pharma

Purchase will expand Humanwell’s and PuraCap’s US Generics platform.

The acquisition of Epic will provide a robust generic product portfolio which 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. Humanwell and PuraCap will acquire Epic’s balanced and diversified portfolio, which currently consists of 15 marketed generic products and a pipeline of 37 products, and this acquisition will complement PuraCap’s own R&D efforts by utilizing Epic’s strengths in the manufacture and development of controlled drug substances and powder formulations. The Epic acquisition will also add a FDA & DEA inspected GMP manufacturing footprint of 110,000 sq ft in Laurelton, New York, and result in the addition of 215 employees to the Humanwell and PuraCap US Operations Team.

Richard Wang, the Chairman of Humanwell Healthcare Group, stated that “This acquisition continues to broaden our global investments consistent with our strategy for the creation of a truly global pharmaceutical company for Humanwell Healthcare Group”.

“This acquisition is a major step in the growth of our company. In addition to strong and growing OTC and Branded Business units in the US, this acquisition along with our recent acquisition of Blu Pharmaceutical LLC & Blu Carib Inc., firmly establishes Humanwell and PuraCap in the US Generic Rx Pharmaceutical segment. The PuraCap US footprint continues to expand our tablet, softgel, 2-piece capsules, cream, and powder product portfolio,” stated Dahai Guo, CEO of PuraCap and also President of Humanwell USA LLC. “The addition of Epic is an important addition to the PuraCap family. We look forward to it being a platform for the development of our generic pharmaceutical business, both in the US, as well as internationally.”

Under the terms of the agreement, 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.