Gujarat-based Dishman Pharmaceuticals and Chemicals Ltd has signed a deal with Dutch company Solvay Pharmaceuticals to acquire its fine chemicals, vitamin D and vitamin D analogues businesses.
Dishman Pharmaceuticals has signed a deal with Dutch company Solvay Pharmaceuticals to acquire its fine chemicals, vitamin D and vitamin D analogues businesses. Dishman producing active pharmaceutical ingredients (API), and Solvay had inked an memorandum of understanding in July for this purpose.
Dishman has three manufacturing units. Two are located about 20 km from here and the third is located in the Naroda area in the city. Following the deal, all facilities, people and activities located at Solvay's Veenendaal site in the Netherlands, as well as the technology, patent and intellectual property rights for fine chemicals, vitamin D and vitamin D analogues business have been transferred to Dishman.
Vitamin D analogues business falls in the category of high potency products that are used for food and pharmaceutical applications. Dishman will retain production of cholesterol and vitamin D analogues at Veenendaal and transfer vitamin D3 production to its Indian plants.
The sale of the manufacturing facility at Veenendaal is a sequel to Solvay's strategy to focus on the main therapeutic area of cardio-metabolic and neuroscience treatments and hive off its non-core business. Dishman has an existing relationship with Solvay for contract manufacturing of a patented API and intermediates.