Senores Pharmaceuticals Limited announced the acquisition of Apnar Pharma Private Limited, which operates a USFDA-approved manufacturing facility in Gujarat, along with five ANDA assets formerly owned by Sandoz. The acquisition aims to expand Senores' geographic footprint and strengthen its presence in regulated markets. The Apnar Pharma facility, commissioned in 2021 and USFDA approved in September 2022, is largely unutilized and new. It is spread across approximately 49,000 square meters, with a vacant parcel for future expansion. The operational facility includes R&D infrastructure and quality control labs, with a current capsule production capacity of 225 million units, scalable to 500 million. The plant also holds approvals from UK MHRA and Health Canada, providing immediate access to other regulated markets beyond the US. Senores plans to leverage this facility to shift manufacturing of certain products from the US to India, reducing single-site risk, enabling faster scale-up, and improving cost efficiency. The total enterprise value for the acquisition is ₹91 crore, comprising ₹76 crore in debt to be assumed and refinanced, and ₹15 crore to be paid as equity in two tranches, funded by IPO proceeds and internal accruals. Three of the five acquired ANDAs are validated and ready for immediate commercialization. The transaction is expected to close by March 2026 (75%) and October 2026 (25%). Post-acquisition, Senores anticipates revenue of approximately ₹100 crore from this facility in FY'27, with a peak revenue potential of ₹250 crore by FY'28. The company expects this acquisition to be accretive to its P&L and EPS, with an estimated 30% plus EBITDA from this facility in its first year of operation.
