Ajinomoto, Granules form joint venture manufacture APIs in India

Ajinomoto, Granules form joint venture to manufacture APIs in India

4:59 PM, 15th July 2011
Ajinomoto, Granules form joint venture to manufacture APIs in India

 

TOKYO, JAPAN: Ajinomoto Co’s wholly owned subsidiary, Ajinomoto OmniChem N V (Belgium) will form a joint venture with Granules India Ltd, a Hyderabad, India-based company. Both companies will have a 50:50 equity ownership in the newly formed company - Granules OmniChem Private Ltd, based in Vishakhapatnam, India.

Construction is set to start in a special economic zone in Vishakhapatnam, India, in November 2011. The company expects production to begin in January 2013. Capital investment in the joint venture is expected to total approx $20 to 25 million. The new company will manufacture pharmaceutical intermediates and active pharmaceutical ingredients (APIs).

The pharma industry is witnessing simultaneous expiration of patents on several major drugs during 2010, medical cost restraints and decreasing number of new drug approvals. The changing environment is seeing many firms outsourcing their production of APIs to newer regions. In India, the pharma industry growth has been rapid and it still offers low cost advantage. The joint venture will increase OmniChem’s cost competitiveness and production capacity.

Granules India has powerful technological capabilities that allow it to supply low-cost, high-quality APIs and pharmaceuticals. This will further enhance Ajinomoto’s pharmaceutical intermediates business.

© WOC News

 

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