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Colorcon acquires majority stake in India pharmaceutical manufacturer
Stacy Wescoe//October 14, 2021
Colorcon acquires majority stake in India pharmaceutical manufacturer
Stacy Wescoe//October 14, 2021//
Harleysville-based Colorcon Inc., a manufacturer of pharmaceutical film coatings and specialty excipients has purchased a majority share in Ideal Cures Pvt. Ltd., an India-based manufacturer of excipients and ready-to-use coating systems for pills and capsules.
Ideal Cures will operate as a fully independent entity within Colorcon. It will provide an expanded service network of manufacturing and technical capabilities for Colorcon, especially in the remotely located economic zones of north India.
“Colorcon views this acquisition as a further opportunity to expand business in the Indian subcontinent and support the continued growth of the Indian domestic pharmaceutical and supplement markets complementing the business activity of Colorcon Asia Pvt. Limited as it services the regulated pharmaceutical industry across India,” said Simon Tasker, CEO of Colorcon.
Saying India has an importance in the pharmaceutical sector, Tasker said growth of the domestic nutritional market driven by the consumer-led health and wellness trend in emerging markets is supported, targeting ayurvedic (Indian traditional medicines) and herbal supplements.
