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Drug-maker Indoco Remedies and Dutch company DSM have agreed to form a strategic alliance, where DSM will market eight active pharmaceutical ingredients (API) manufactured by Indoco.
The agreement paves the way for Indoco to expand its presence in markets across the globe for APIs, the Indoco Chairman and Managing Director, Mr Suresh G. Kare, said in a company statement.
The President and Chief Executive of DSM Pharmaceutical Products (DPP), Mr Alexander Wessels, said the agreement was in step with its strategy to accelerate growth via partnerships and expand in Asia to build a product portfolio alongside its custom manufacturing operations. “It allows DPP to build a competence base in India,” the note quoted him saying.
The Indoco alliance is anchored in DSM's API business, DSM Pharma Chemicals, headquartered in Austria.
Financial details of the deal were not disclosed.
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