Amrutanjan to form JV with Austin Chemical of US
19 Jan 2011
Amrutanjan Health Care Ltd today signed a memorandum of understanding (MoU) with Austin Chemical of USA to form a joint venture named Amrutanjan Pharmaessense Ltd (Pharmaessense).
Amrutanjan's fine chemicals division (now named Pharmaessense) has already been providing value-added services like contract research and manufacturing services (CRAMS) to several MNCs, the company said in a filing with the Bombay Stock Exchange (BSE).
Amrutanjan, an established manufacturer of OTC products for over a century, said it has been looking for opportunities to enhance its chemicals division's market penetration by strategic partnering with a marketing leader in the US.
Amrutanjan with its manufacturing facility in Alathur, Chennai, said it would focus on supply of non-GMP and cGMP intermediates and APIs from pilot scale to commercial quantities.
Amrutanjan said the primary aim is to market pharmaceuticals manufactured at its facility that can house 55 scientists and its new world class kilo lab/pilot plant that conforms to ICH Q7 guidelines (Class 100,000) in addition to fully equipped GLP analytical lab.
"With Austin's strength in sales and marketing, distribution and sourcing and procurement, the companies hope to evolve new synergies to create a dynamic, high-value platform.