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Mitsui & Co. increases stake in Indian API firm

12:18 AM MST | January 18, 2013 | Deepti Ramesh

Mitsui & Co. (Tokyo) says it has on 16 January acquired an additional 27.29% stake in Arch Pharmalabs (Mumbai), a manufacturer of pharmaceutical intermediates and active pharmaceutical ingredients (APIs), for 3.7 billion Indian rupees ($68.6 million). The acquisition has increased Mitsui & Co.'s stake in Arch Pharmalabs to 31.96%. Mitsui & Co. had initially acquired a stake in Arch Pharmalabs in September 2010. Arch Pharmalabs, which was established in 1999, employs about 2,826 people and recorded sales of Rs15.2 billion in the fiscal year ended 31...

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