24 April 2013 | News | By BioSpectrum Bureau
Mumbai: IMCD Group acquired the business of Indchem International, an established player in the pharmaceutical ingredients market in India. The business of Mumbai-based Indchem has already been fully integrated into IMCD India and all key personnel have transferred to IMCD.
IMCD's latest acquisition confirms that India is an important growth market for the Rotterdam based speciality chemicals and food ingredients distributor. IMCD Business Group Pharmaceuticals is one of the leading pharmaceutical excipients players in the world.
"The two companies share a culture of having a focus to grow as a company that offers an entire range of excipients, thus providing a single stop solution for all their clients' formulation needs," comments Mr Ashvin Patel, IMCD business director India. "With Indchem's excellent customer service and technical support on board, IMCD will be able to further strengthen our presence on the Indian market," adds Mr Patel.
Mr Narayan Sainathan, former owner of Indchem and the new head of the Pharmaceutical Business Unit IMCD India, adds "With strong partnerships with our existing principals on one hand, and our dedication to deliver best-in-class services and enhance our technical team on the other, we are excited about opportunities to bring innovative and complimentary products to our customers."
Mr Vijay Ranshinge, managing director IMCD India, adds: "Indchem is a reputable player in the pharmaceutical market and their portfolio perfectly complements ours in India. With our group network and technical expertise, we will be well positioned to better serve our customers throughout India. This pan-Indian approach will further enhance the service and products that we can offer to the customers in this market."
With a goal to provide Indian pharmaceutical industry with a wide range of excipients and reduce their clients' formulation complexities, Indchem has represented some of the world class excipient manufacturers over the last two decades.