Financial Daily from THE HINDU group of publications
Thursday, Jan 20, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 20, 2005 |
|
|
|
|
|
Corporate
-
Mergers & Acquisitions Matrix Labs acquires Sigma's Nashik facility Our Bureau
Hyderabad , Jan. 19 Matrix Laboratories Ltd (MLL), the Hyderabad-based pharmaceutical major, has acquired the finished dosage forms manufacturing facility of the Mumbai-based Sigma Laboratories Ltd (SLL). Located near Nashik, about 150 km from Mumbai, the facility is fully operational and has the capacity to manufacture 600 million tablets, 150 million capsules, 25 million ampoules and 10 million vials per annum on single shift basis and also offers scope for further expansion, MLL announced in a press release here on Wednesday.
The Nashik facility of Sigma Labs was commissioned a couple of years ago and the facility has already received approvals from regulatory agencies such as Medicines and Healthcare Products Regulatory Agency (MHRA) of UK, Medicines Control Council (MCC) of South Africa and Therapeutic Goods Administration (TGA) of Australia, apart from WHO certification. Matrix Labs announced that the newly acquired facility would be upgraded further to make it approvable by the US FDA and the European EDQM in due course of time. According to the Matrix Labs Chairman and Chief Executive Officer, Mr N. Prasad, "The purchase of finished dosage facility is in line with the strategic intent of participating in the contract manufacturing of finished dosage forms. It complements to our existing APIs (active pharmaceutical ingredients) business and it is a step towards moving up the value chain." Stating that the purchase would enable Matrix to fast track its plan to enter into contract manufacturing of finished dosage forms, enabling the company serve its customers better, Mr Prasad said the original plan of setting up of new finished dosage facility near Hyderabad at an investment of Rs 75 crore has now been put on hold on account of the latest acquisition. Matrix Labs has already taken up the lab work for the development of finished dosage forms and dossiers and has also entered into firm contracts with a couple of customers for contract manufacturing, the release said.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|