Iceland-headquartered generics pharma company Actavis has acquired the API (active pharmaceutical ingredient) manufacturing division of Sanmar Specialty Chemicals Limited (SSCL), a subsidiary of the Chennai-based Sanmar Group, for an undisclosed sum. The division will give Actavis a wholly-owned, FDA-approved facility as well as the ability to develop and manufacture its own APIs. Prior to the SSCL acquisition, Actavis has concluded two more acquisitions in India: Chennai-based Grandix Pharmaceuticals in December 2006 and Bangalore-based CRO (Contract Research Organisation) Lotus Laboratories in February 2005.
The SSCL division is located near Chennai and supplies APIs to international pharmaceutical companies, mostly in Europe and the US. The division currently manufactures 15 products and employs approximately 70 people. Actavis has also entered into a service agreement with SSCL to provide Actavis with API research and development services at SSCL’s research facilities. Actavis already has a wholly-owned, fully-operational API development centre set up in Bangalore. Actavis now has over 620 people employed in India, with operations in Chennai, Bangalore and Hyderabad. Actavis now has a total of 30 API projects under development in India.
Read The Economic Times and Business Standard articles.
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