News is slowly trickling in of Indian pharmaceutical and fine chemical companies shutting down facilities that were acquired with great zeal during the 2005-08 overseas acquisition drive.
Shasun has decided to shut its facility at Newbie in Scotland and is reportedly shifting manufacturing to other locations in the US, the UK and India. The Newbie plant is one of two units acquired by Shasun from Rhodia in 2006.
Last week Piramal Healthcare announced that it was closing an active pharmaceutical ingredients (API) facility in the UK. The move, said Piramal, would help improve profit margins of the company’s pharmaceutical solutions business by 6-8%. The unit was acquired from Avecia Pharmaceuticals in 2005.
A case of biting off more than you can chew?