People & Business :: Companies
Mitsui & Co. to Acquire Stake in Indian API Manufacturer
10:22 PM MDT | September 22, 2010 | Deepti Ramesh
Mitsui & Co. (Tokyo) says it has entered into an agreement with Arch Pharmalabs (Mumbai), a pharmaceutical chemical intermediate and active pharmaceutical ingredients (API) manufacturer, to acquire about 5% of Arch for ¥1.2 billion ($14 million). The agreement makes Mitsui one of the first Japanese conglomerates to acquire a stake in an Indian pharmaceutical contract manufacturing organization (CMO), Mitsui says. Through this investment, Mitsui aims to strengthen the CMO business platform. India has a huge potential for manufacturing pharmaceutical...
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