Updated on 13 March 2013
Mitsubishi Chemical healthcare unit, Apic, to investment in Neuland Laboratories' facilities
Hyderabad: Neuland Laboratories entered into a manufacturing collaboration with Tokyo-based API named Apic, which is a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, along with fine chemicals and reagents.
Under the terms of the agreement, Apic is making an investment in Neuland's facilities that will provide Apic with dedicated capacity for meeting the needs of its customers. The facilities will be operated by Neuland employees and the two companies will share oversight and management responsibilities.
"We are impressed with Neuland's long history of quality production and regulatory excellence. In addition, their business model of being solely focused on API and intermediates manufacture makes them an ideal partner for Apic," said Mr Taiichi Emura, president, Apic.
"This agreement between Neuland and Apic is an outstanding example of a win-win collaboration between companies that share many values and are complementary in terms of capabilities and markets served," said Dr D R Rao, chairman and managing director of Neuland Labs. "We have recently been strengthening our presence in the Japanese market, while Apic was seeking an Indian partner to better serve customers. This alliance will allow us to raise our profile in Japan while enabling our partner Apic to grow their business in a cost-effective way."
Dr Rao added, "Our work with Apic has already been valuable in increasing our understanding of the unique requirements of the Japanese market. We are confident that we have adequate production capacity to serve both existing and new customers and believe that this collaboration will further enhance our ability to serve all of our customers around the globe."