Indian pharmaceutical companies have been actively investing in the United States in 2025, focusing on acquisitions of facilities, products, and stakes in U.S.-based firms to expand manufacturing capabilities, enter new segments like biologics and biosimilars, and strengthen their global supply chains. These moves are driven by factors such as the U.S. Biosecure Act, tariff considerations, and opportunities in generics, oncology, and contract development and manufacturing organizations (CDMOs). Below is a summary of notable investments, based on reported deals up to August 31, 2025.
(1) Acquisitions Of US-Based Companies Or Assets
(a) Sun Pharmaceutical Industries Ltd.: Acquired Checkpoint Therapeutics Inc., a US-based immunotherapy and targeted oncology company, for an upfront payment of $355 million. The deal, completed in the second quarter of 2025, includes UNLOXCYT (cosibelimab), an FDA-approved anti-PD-L1 treatment for skin cancer. This enhances Sun Pharma’s oncology portfolio and US market presence.
Additionally, Sun Pharma invested $25 million to acquire a 22.7% stake in Pharmazz Inc., a US-based company developing treatments for cerebral ischemic stroke, with funds deployed in two tranches ($10 million by May 2025 and $15 million by November 2025).
(b) Intas Pharmaceuticals Ltd. (Through Accord BioPharma): Acquired the UDENYCA franchise (pegfilgrastim-cbqv, a biosimilar to Neulasta) from Coherus BioSciences Inc. for up to $558 million ($420 million upfront and up to $138 million in milestones). Completed in August 2025, this deal positions Intas as one of the largest global suppliers of pegfilgrastim and includes the transfer of about 50 US employees, bolstering its US specialty biosimilars division.
(c) Zydus Lifesciences Ltd.: Acquired two biologics manufacturing facilities in Emeryville and Berkeley, California, from Agenus Inc. for an upfront payment of $75 million (total potential value up to $141 million including milestones). Announced in June 2025, this marks Zydus’s entry into the global biologics CDMO space and includes a licensing agreement for botensilimab/balstilimab (BOT/BAL) immunotherapy candidates.
(2) Facility Acquisitions And Expansions
(a) Syngene International Ltd.: Acquired a biologics manufacturing facility in Baltimore, Maryland, from Emergent BioSolutions for $36.5 million, with an additional planned investment of about $13.5 million (total ~$50 million). Completed in March 2025, this is Syngene’s first US facility, expanding its single-use bioreactor capacity to 50,000 liters and supporting client projects from the second half of 2025 onward.
(b) Jubilant Pharmova Ltd.: Investing $50 million to expand its PET radiopharmacy network by adding six new sites across the US, as part of its Vision 2030 to double revenues. This follows a larger $285 million capex for a US-based vaccine manufacturing facility (partly funded by a $149.6 million US government cooperative agreement). The investments are underway in 2025, aiming to enhance radiopharmaceutical capabilities.
(3) Other Notable Deals (Chemical/Pharma-Related)
While primarily focused on pharmaceuticals, some investments overlap with chemical manufacturing for pharma applications:
(a) Aditya Birla Group: Acquired Cargill’s specialty chemical plant in Dalton, Georgia (deal value undisclosed), with plans to triple capacity for resins and other pharma-related chemicals.
(b) Thirumalai Chemicals Ltd.: Investing over $200 million to build a plant in West Virginia for maleic anhydride and food ingredients used in pharma (expected to open in 2026).
These investments reflect a broader trend of Indian pharma firms acquiring US assets to mitigate supply chain risks and capitalise on the U.S. market, which accounts for 30-50% of revenues for many (e.g., Sun Pharma at 33%, Aurobindo at 45%). However, challenges like potential U.S. drug price cuts and tariffs could impact margins. No major new deals were reported in the last week of August 2025.
Also See
(1) Foreign Direct Investment (FDI) Outflow (OFDI) From India In 2025
(2) FDI Outflow To United States (US) From India Till August 2025