OR WAIT 15 SECS
The transaction will reach completion during the fourth quarter of 2019.
Ajinomoto Bio-Pharma Services, a biopharmaceutical contract development and manufacturing services company, announced on Aug. 29, 2019 that it will purchase 50% ownership interest in its Visakhapatnam, India, joint venture, Granules OmniChem Private Limited (GOC) from its joint venture partner, Granules India Limited. The transaction is expected to close during the fourth quarter of 2019. The financial details were not disclosed.
The GOC venture by Ajinomoto OmniChem N.V. and Granules India Limited was originally established in 2011, according to a company press release. The companies worked to provide small-molecule intermediates and API manufacturing to the pharmaceutical industry.
“GOC has been a well-run producer of high-quality API since its formation, which was designed, constructed and is managed based on our Belgian sites’ GMP operating standards and quality systems,” said David Enloe, CEO, Ajinomoto Bio-Pharma Services, in the press release. “This allows us to provide a seamless experience for our clients as they continue to deepen their partnerships with us on key programs in their product pipelines.”
“We are extremely pleased to now be a fully integrated member of Aji Bio-Pharma,” said K.V.V. Raju, CEO, Granules OmniChem Pvt. Ltd., in the press release. “As an official part of this CDMO [contract development and manufacturing organization], our team can further enhance Aji Bio-Pharma’s ability to deliver value to our customers and contribute to the improving the health of humankind mission.”
Source: Ajinomoto Bio-Pharma