Italian CDMO Olon wraps up acquisition of Mahad API plant in India
Mahad API plant acquisition : Olon, an Italy-based active pharmaceutical ingredients (API) developer and manufacturer, has completed the acquisition of
The post Italian CDMO Olon wraps up acquisition of Mahad API plant in India appeared first on PharmaNewsDaily.com.
Mahad API plant acquisition : Olon, an Italy-based active pharmaceutical ingredients (API) developer and manufacturer, has completed the acquisition of an API manufacturing facility in Mahad in Maharashtra, India.
The company’s subsidiary Olon India will initiate all the activities the next April 1st as per the strategy of Olon after an intensive transition period that began on September 4th.
Paolo Tubertini – CEO of Olon said: “With this acquisition Olon achieved another successful milestone toward our growing strategy.”
The Mahad API plant acquisition marks the next step of Olon in its strategic plan after acquiring Ricerca Biosciences’ Chemical Division in mid-2017 and Capua BioServices, a provider of CDMO services in the field microbial fermentation earlier this year.
With the acquisition of the Mahad API plant, Olon has finalized its three years’ development plan successfully and its next goal is to play a key role in the manufacturing of biologics API’s.
Claudio Massari – CEO of Olon India said: “A new most important journey will start for Mahad site with the new company Olon API India Pvt Ltd. I am looking forward to the future of this company in India as one of Company leader in the API manufacturing not only for the Indian market but for the entire world. Thanks to the excellent facility, strong experienced and talented people, I’m proud to lead Olon India and sure of the long success”.
The Mahad API manufacturing plant supplies products to Novartis Group’s Sandoz division. Under the terms of the asset purchase deal, Olon agreed to sign a long-term supply contract to ensure the continuous supply of Sandoz products manufactured at the Mahad API facility.
The main product manufactured from the Mahad API plant is Rifampicin, which is used for the treatment of various types of bacterial infections such as tuberculosis and its derivate.
Olon plans to invest in the Mahad API facility and to get business development opportunities to streamline the plant’s utilization and to grow its customer base.
The Mahad API plant has a reaction capacity of 580 m3 and employs nearly 270 employees. It manufactures several lifesaving drugs to the Indian healthcare system and patients all over the world.
Related posts
The post Italian CDMO Olon wraps up acquisition of Mahad API plant in India appeared first on PharmaNewsDaily.com.
Share this:
Discover more from Business-News-Today.com
Subscribe to get the latest posts sent to your email.
