Khaitan Baker amp Mckenzie Latham and Amarchand lead on US based Hospiras acquisition of Orchids API manufacturing RampD units for 200 million

Hospira Inc. has entered into an agreement to acquire the API manufacturing facility along with an associated research and development (R&D) facility of Orchid Chemicals & Pharmaceuticals. The deal is valued at $200 million (Rs.1112 crore)..Khaitan & Co acted as Indian legal advisor to Hospira with a team led by Senior Partner Haigreve Khaitan along with Partner Aakash Choubey..Baker & Mckenzie acted as International legal advisor to Hospira with a team led by Chicago Partner Michael Defranco..Latham & Watkins is acting as International legal counsel to Orchid with a team led by San Diego Partners Steven Chinowskyand Scott Wolfe along with associates Victoria Geft, Michael Chin and Matthew Ichinose. Counsel Sydney Smith in Washington, D.C. advised on antitrust matters..Amarchand Mangaldas is advising Orchid on the India leg of the transaction with Bangalore Partner Rashmi Pradeep..ET reports, the proceeds from this business transfer will be utilised for de-leveraging Orchid’s debt position and also pave the entry for the company’s foray into newer product verticals..The business transfer includes the related Penicillin and Penem product portfolio and pipeline. Approximately 830 employees would be transferred to Hospira, as part of this business transfer. Orchid would continue to supply its cephalosporin APIs to Hospira in accordance with the long-term supply contract. Further, Hospira would supply certain ingredients from the Aurgandabad facility to Orchid under a long-term agreement that both companies have entered into..According to Khaitan & Co press release, this is one of the largest pharmaceutical transactions in 2011 – 2012..Dealcurry reports, Hospira, Inc. is the provider of injectable drugs and infusion technologies and is headquartered in Lake Forrest. It currently has around 15000 employees and operates Hospira Healthcare India – wholly owned subsidiary in India of the company.