Actavis acquires Indian manufacturing plant
Acquisition increases low cost manufacturing capability
Actavis Group announced that it has acquired a manufacturing plant from Grandix Pharmaceuticals, a manufacturing and marketing company based in Chennai, Southern India for an undisclosed amount. In addition Actavis has just opened a new API (Active Pharmaceutical Ingredient) development unit, which allows Actavis to backward integrate its business.
Grandix provides Actavis with its own low cost manufacturing capability in India and a facility from which to develop and manufacture products for the US and key markets in Europe. Actavis also intends to use the facility as a manufacturing site to develop and re-launch older products as many of these products need lower cost base to be competitive in the international marketplace.
Actavis intends to increase the manufacturing capacity of the plant to approximately 4 billion tablets over the next 18 months and strengthen the development and regulatory affairs units.
Actavis has opened a new API development facility in India, with the aim of developing 10-15 products a year and the unit has already started development of the first ten. The new site is 1000 sqm and over 50 specialists have already been hired.
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