Intas Pharmaceuticals and Accord Plasma Sign Acquisition Deal with Prothya Biosolutions

Acquisition of Prothya Biosolutions

In a significant development within the pharmaceutical industry, Accord Plasma B.V., a subsidiary of Intas Pharmaceuticals, has officially announced the signing of a deal to acquire 100% of Prothya Biosolutions Belgium BV and its subsidiaries. Prothya, recognized as a key player in the production of plasma-derived medicinal products (PDMP), operates from the Netherlands and Belgium. The acquisition is subject to usual closing conditions, such as regulatory approvals, and is expected to finalize soon.

This move marks a crucial step in Intas and Accord's long-term ambition to establish a global footprint in the PDMP market, further enhancing Intas' strong presence in India to a truly international level.

Prothya Biosolutions: A Leader in Plasma-derived Products

Prothya Biosolutions, with headquarters in Amsterdam and Brussels, and plasma centers across Hungary, boasts a workforce of approximately 1,200 employees. It ranks as one of the largest companies in plasma fractionation across Europe. The company's formation in 2021 stemmed from the integration of Plasma Industries Belgium, initially linked to the Belgian Red Cross, and Sanquin Plasma Products, previously part of the Sanquin Blood Supply Foundation. With a rich history exceeding 60 years in plasma collection and PDMP development, Prothya brings invaluable expertise to the table.

Binish Chudgar, Chairman of Intas and Accord, expressed enthusiasm about expanding their plasma business through Prothya's acquisition, stating, "We are excited to enhance our plasma enterprise with the acquisition of Prothya Biosolutions. Coupled with our fractionation capabilities in India, this alliance will enable us to establish a genuine global plasma platform offering essential therapies frequently in short supply to patients around the world."

Intas' plasma division in India has supplied hospitals with PDMPs since 2015, showcasing an annual fractionation capacity exceeding one million liters of plasma, while also exporting to numerous international markets. The ongoing expansion of the Intas facility in Gujarat is set to add further capabilities.

Strategic Objectives and Market Insights

Nir Epstein, CEO of Prothya, remarked on the past four years as a period of growth and development, having entered new markets, advanced critical therapies, and built a robust network of plasma centers in Hungary along with supplying leading PDMP companies worldwide. He conveyed gratitude to the team for their dedication to patient care, believing that Accord is the right partner to support Prothya and its personnel in the next phase of growth and global expansion.

The global market for PDMP, particularly intravenous immunoglobulin (IVIG), is estimated at $30 billion and is projected to grow to approximately $50 billion by 2035. This acquisition positions Intas to access substantial additional fractionation capacities, supported by Accord's commercial presence in 85 countries.

In this transaction, BofA Securities serves as the exclusive financial advisor for Accord, while Evercore acts as the exclusive financial advisor for Prothya.

About Intas Pharmaceuticals

Intas Pharmaceuticals Ltd., a leading vertically integrated pharmaceutical enterprise headquartered in Ahmedabad, India, possesses end-to-end capabilities in formulation development, manufacturing, and marketing, including complete backward integration in active pharmaceutical ingredient (API) production. The company excels in developing and marketing biosimilars and boasts over 15 products in its portfolio. Intas is dedicated to enhancing access to healthcare globally by providing affordable, high-quality medications tailored to the diverse needs of health systems worldwide through strategic partnerships and substantial investments in research and development.

With a history of organic and acquisition-driven growth, Intas has broadened its product portfolio and operations year over year. It operates in over 85 countries, underpinning a solid sales, marketing, and distribution infrastructure across markets including North America, Europe, and the Asia-Pacific regions, as well as the CIS and MENA areas. Its notable successes in North America and Europe underscore Intas’s evolution into a significant global brand within the world's leading pharmaceutical markets.