Pisgah is a US-based contract manufacturing organization (CMO) and active pharmaceutical ingredients (APls) and intermediate developer.
The object of the acquisition is “to establish Company's foothold in the US market in the field of contract research / small volume APls and intermediates manufacturing,” per Ipca's filing.
For the financial year ending April 2017, Pisgah had a total income of $2.89m and an EBITDA of $1.14m.
According to the company, Onyx and Pisgah's services “dovetail effectively” with Ipca’s capabilities in supporting Phase II to commercial scale programs.
Ipca purchased Onyx in 2011 – a move which marked the company’s first foray outside of India.
Moving forward, Pisgah will continue to operate out of its North Carolina manufacturing facility under its same name.