Image credit- indiamart.com
Italian company Olon S.p.A., a world leading Active Pharmaceutical Ingredients (API) contract development and manufacturing organization (CDMO) and generics supplier, has announced the acquisition of a local generics chemical operations API manufacturing facility in Mahad, India, as part of a continuing expansion of its global footprint.
Paolo Tubertini, CEO of Olon, commented, "By acquiring a manufacturing base in India, Olon will have the opportunity to accelerate growth by adding new CDMO projects and to develop new generic products for the Indian market. It comes with a world-class manufacturing facility and a dedicated team of experts that will support us in delivering high-quality pharmaceuticals that meet or exceed customer expectations and regulatory requirements.
The Mahad site, which supplies products to Sandoz, a division of the Novartis Group, is an established and reputable API manufacturing facility in India and provides a number of lifesaving medicines to the Indian healthcare system and patients around the world. As part of the asset purchase agreement, the parties have committed to sign a long-term supply contract to guarantee continuous supply of Sandoz products manufactured in Mahad. No impact on jobs is planned and Olon intends to invest in the site and pursue business development opportunities to optimize the plant's utilization and expand its customer base.
The acquisition of the Mahad API manufacturing facility is expected to be completed in early 2019, following a transition process.
