Dishman plans to buy Solvay Pharmaceuticals' facilities in Veenendal, Netherlands to bring fine chemicals expertise in India.
Dishman Pharmaceuticals will Solvay Pharmaceuticals' facilities in Veenendal, Netherlands and the intellectual property rights for fine chemicals, vitamin D and Vitamin D anlogues businesses. The company will retain the manufacturing of cholesterol and vitamin D analogues at Veenendaal and transfer the vitamin D3 production to its Indian facilities. The transaction is expected to be completed in four months. The acquisition is an opportunity to bring fine chemical expertise to India.
Dishman has a long-term relationship with Solvay for contract manufacturing of a patented active pharmaceutical ingredient (API) and its intermediates. Dishman currently supplies the API for Eprosartan Mesylate (EM) – a hypertensive drug marketed by Solvay under the brand Teveten – and its intermediates, and the contract goes on until December 2008 and is extendable annually.