Purchase expands PuraCap's presence in both US and Global Markets
SOUTH PLAINFIELD, N.J., March 24, 2016 /PRNewswire/ — PuraCap Pharmaceutical LLC announced yesterday the acquisition of Blu Pharmaceutical LLC and Blu Caribe Inc creating PuraCap International LLC, a joint venture between PuraCap and Dangdai International Group Co., Ltd. This acquisition will expand PuraCap's world-class manufacturing expertise beyond soft gelatin capsules to include oral tablet & capsule dosage forms for both the US and global markets.
Photo – http://photos.prnewswire.com/prnh/20160323/347643
Photo – http://photos.prnewswire.com/prnh/20160323/347644
Under PuraCap International LLC, the newly created company will grow and strengthen PuraCap's considerable manufacturing capabilities over the next several years, according to PuraCap Pharmaceutical CEO Dahai Guo.
"This acquisition is a major step in the growth of our capability in the manufacturing of oral solid dosage forms in the United States, which complements our state-of-the-art soft gelatin capsule manufacturing facility in Wuhan, China," stated Mr. Guo.
The acquisition includes a state-of-the-art 145,000 sq. ft. FDA approved, cGMP compliant manufacturing facility in Dorado, Puerto Rico, as well as an 185,000 sq. ft. warehouse & distribution center in Franklin, Kentucky, USA.
"Dangdai International Group Co., Ltd is especially pleased to be part of this joint venture that broadens our investment activity into the western hemisphere in a company poised for strong growth," stated Dr. Hansheng Zhou, CEO of Wuhan Dangdai Science & Technology Industries Group Co., Ltd. Dangdai International Group Co. Ltd. is a wholly owned subsidiary of Wuhan Dangdai Science & Technology Industries (Group) Co. Ltd., a conglomerate with a substantial medical and pharmaceutical portfolio in China. Dr. Zhou also serves as the Chairman of the Board at the newly formed PuraCap International LLC.
"This acquisition brings us further infrastructure and sales channels, not only in the retail generic drug business, but also the US government purchasing tender business channel to help meet the growing demand for generic prescription products," added Mr. Sean Weeks, President of PuraCap International LLC.
About PuraCap Pharmaceutical LLC
PuraCap Pharmaceutical LLC is an emerging, fully integrated pharmaceutical company with expertise in product development, manufacturing and distribution bringing, high quality products & services to their customers. PuraCap's corporate structure supports a two-pronged approach for global growth in the areas of prescription brands (PuraCap Pharmaceutical LLC) as well as prescription generics and OTC and private label brands (PuraCap International LLC).
About Wuhan Dangdai Science & Technology Industries Group Co., Ltd.
Founded in 1988, Wuhan Dangdai Science & Technology Industries (Group) Co., Ltd is a China-based privately held conglomerate. Wuhan Dangdai's business mission focuses on innovation, transparency, governance, prudence and social responsibility. Its portfolio is comprised of several Chinese publicly listed entities and private companies in North America and Africa. Wuhan Dangdai's diverse enterprise includes biopharmaceuticals, media, entertainment, real estate development, tourism, agriculture, textile and financial services.
Forward-Looking Statement
All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which PuraCap Pharmaceutical LLC and Dangdai International Group Co., Ltd do business, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements.
Media Contact:
Sean Weeks
President
PuraCap International LLC
Email
www.puracap.com
908-941-5456