OneSource Specialty Pharma’s board has approved a plan to integrate two businesses into the company. The deal brings in Steriscience’s European CDMO operations and Brooks Steriscience’s anti-infective business in India. The company says this step will boost capacity, product mix, and global reach.
The transaction is through a share swap. Brooks Steriscience Limited shareholders will receive 137 OneSource shares for every 10 held. Steriscience Singapore shareholders will receive 53 OneSource shares for every 100 held.
For existing shareholders, total dilution is estimated at 18.5%. After the deal closes, the total share count is expected to be about 140.64 million. The company expects the acquired assets to add meaningful earnings from FY27 onward.
The deal framework values OneSource at about $2.7 billion for the transaction context. It reflects an 18.6% premium to the most recent closing price and a 9.1% premium to the applicable pricing formula. Management calls the combination “transformational” for scale and diversification.
Closing could take up to 15 months, given multiple regulatory and court approvals. The process includes stock-exchange filings, SEBI review, NCLT and Singapore court procedures, and shareholder and creditor meetings. An independent sub-committee has reviewed the proposal.
Post-completion, promoter and promoter-group holding is projected to be around 36%, with public and others at roughly 64%. The shareholding outcome factors in certain pre-scheme realignments and conversions ahead of effectiveness.
What is OneSource building? The company is positioning a global CDMO platform anchored by a European site and an Indian anti-infectives base. The EU facility is USFDA/EUGMP/Health Canada approved, handles multiple dosage forms, and supports a long-term contract for a leading anaesthetic brand. The India facility is a vertically integrated carbapenem platform with API + FDF capabilities and several global approvals.
Management indicates the incoming assets are expected to deliver about $100 million of FY27 revenue at ~40% EBITDA margins. With the combination, OneSource also plans to expand into ready-to-use (RTU) formats and 505(b)(2) opportunities, while reducing concentration risks.
Looking ahead, the company has upgraded its outlook to $500+ million revenue with ~40% EBITDA by FY28, including the impact of the transaction. Organically, the earlier guidance stood near $400 million revenue with similar profitability.
In simple terms, OneSource is combining proven European CDMO capabilities with India’s anti-infective strength under one umbrella. The share-swap route delivers scale and new product formats, even as it results in an 18.5% dilution for current shareholders.
