Dishman announces purchase of Solvay units

09 July 2007 08:54  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Dishman Pharmaceuticals & Chemicals Limited (DPCL) said on Monday it has acquired Solvay Pharmaceuticals’ fine chemicals, vitamin D and vitamin D analogues businesses for an undisclosed amount.

 

The intended sale is a result of  Netherlands-based Solvay’s strategy to focus on the main therapeutic areas of cardiometabolic and neuroscience treatments and hive off the non-core businesses.

 

"This acquisition of cholesterol, vitamin D and vitamin D analogues businesses would not only increase the basket of products of Dishman but also brings new customer relationships," said JR Vyas, managing director of DPCL.

 

All of Solvay’s facilities and activities located in Veenendaal and technology, patent and intellectual property rights for the businesses would be transferred to Dishman. The transfer would be completed this year after finishing due diligence procedures and obtaining approval from the relevant authorities.

 

Solvay’s Veenendaal site mainly produces, markets and sells cholesterol and related products. Manufacturing of vitamin D analogues takes place at Solvay's site in Weesp.

 

Cholesterol is used in pharmaceutical, cosmetic and crustacean feed applications. Vitamin D analogues are used for food and pharmaceutical applications and fall into the category of high potency products.

 

DPCL would retain production of cholesterol and vitamin D analogues at Veenendaal and transfer the vitamin D3 production to its plants in India.

 

 

By: Divya Chowdhury
+65 6780 4359

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