Company Watch

Indoco Remedies acquires API manufacturing facility

Our News Bureau - Mumbai

Indoco Remedies announced the acquisition of La NovaChem's API manufacturing facility, located at Patalganga, Maharashtra. The acquisition has been effected by acquiring the shares of La NovaChem (India), the company owning the facility, thereby making La NovaChem a 100 percent subsidiary of Indoco. The facility is built on USFDA standards and Indoco will apply for an approval shortly.

The acquisition of La NovaChem facility, is a strategic step by the company to build its in-house API manufacturing capability, both for the domestic, as well as, exports business. Recently, Indoco commissioned it's newly set-up R&D centre at Rabale near Thane, which primarily targets API synthesis and development, and is also equipped with a kilo-lab facility.

Indoco is looking to expand its business from other geographies, specially the regulated markets of US and Europe. Indoco's Goa plant for sterile ophthalmic preparations is USFDA approved. This will facilitate the production and export of the company's ophthalmic preparations to USA. Indoco has also signed agreements with two generic companies in USA and will supply products from the Goa facility.