At CPHI in Milan in October, eight Indian CDMOs announced that they have formed a trade group to raise the profile of India’s drug services sector and make it a destination of choice. “We are trying to advocate the idea that, like IT services, pharma services could be a big industry in India,” said Aragen CEO Manni Kantipudi (pictured), who leads the group.
Two Indian speciality chemicals companies have made important announcements in the field of agrochemical intermediates. Aarti Industries has signed a long-term supply contract, while Jubilant Ingrevia has opened a new facility.
Aarti’s new contract is with an unnamed major agrochemicals supplier and could be worth about €330,000 over nine years. It pertains to a niche intermediate for a herbicide that is used with corn, soybean, cotton, sugarcane, sunflowers and other crops. No capacity expansion is needed as the intermediate is already in the company’s portfolio.
Private equity investor Advent International has completed the acquisition of 50.1% stake in Indian CDMO Suven Pharma for $5.95/share, as originally agreed in December 2022. This will shortly trigger an open offer for the remaining 26% not being retained by the founding Jasti family. The move follows approval by the Cabinet Committee on Economic Affairs in August.
Azelis has announced the opening of new laboratories within the space of a month. Each covers different applications and is located on different continent.
A new pharmaceuticals and healthcare application laboratory in Courbevoie, France, complements existing ones in the UK and Turkey, the company said. It is equipped to address challenges in areas such as API solubilisation and bioavailability, compliance, counterfeiting and misuse, and the optimisation of formulations and production processes.
Azelis has agreed to acquire Chemiplas Agencies, an Auckland-based distributor of speciality chemicals, plastic raw materials and ingredients in Australia, New Zealand and the Pacific Islands. This is expected to close before the end of Q1 2023, after customary closing conditions are fulfilled.
Indian Prime Minister Narendra Modi has laid the foundation stone of a ‘bulk drug park’ at Haroli in the Una district of the northern state of Himachal Pradesh state. In doing so, he said that the park will help to “reduce dependence on API imports”.
Amit Gandhi and Amita Parekh, managing directors and partners at BCG, look at the opportunities for Indian CDMOS in the global agrochemical industry
If one were to imagine the ‘ideal’ industry for India’s chemical exports, it would most likely be globally relevant, with customers who outsource a significant percentage of the critical synthesis steps, and have a strong need for innovation and IP protection. agrochemical CDMO industry ticks all these boxes.
