Neuland Laboratories, an API manufacturer based in Hyderabad, India, has entered a manufacturing collaboration with Tokyo-based API Corp. (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, along with fine chemicals and reagents. APIC is making an investment in Neuland's facilities that will provide APIC with dedicated capacity for client needs. Neuland will operate the facilities and the two companies will share oversight and management responsibilities.
"We are impressed with Neuland's long history of quality production and regulatory excellence. In addition, their business model of being solely focused on API and intermediates manufacture makes them an ideal partner for APIC," said Taiichi Emura, president of APIC.
"This agreement between Neuland and APIC is an outstanding example of a win-win collaboration between companies that share many values and are complementary in terms of capabilities and markets served," said Dr. D.R. Rao, chairman and managing director of Neuland Labs Ltd. "We have recently been strengthening our presence in the Japanese market, while APIC was seeking an Indian partner to better serve customers. This alliance will allow us to raise our profile in Japan while enabling our partner APIC to grow their business in a cost-effective way."