Olon, an Italy-based active pharmaceutical ingredients (API) developer and manufacturer, has acquired a generics chemical operations API manufacturing plant in Mahad in the Indian state of Maharashtra.
According to Olan CEO Paolo Tubertini, the acquisition of AP manufacturing facility in India will give the company scope to speed up growth by adding new CDMO projects and in the development of new generic products for the Indian pharma market.
Paolo Tubertini, commenting on the acquired API manufacturing plant in India, said: “It comes with a world-class manufacturing facility and a dedicated team of experts that will support us in delivering high-quality pharmaceuticals that meet or exceed customer expectations and regulatory requirements.”
Last year, Olon acquired the chemical division of Ricerca Biosciences and followed it with an investment of over €10 million for the expansion of APIs manufacturing lines at its Settimo Torinese plant in Italy.
The Mahad site, which supplies products to Novartis Group’s Sandoz division, is a well-known API manufacturing facility in India.
As part of the asset purchase deal, the parties have agreed to sign a long-term supply contract to ensure continuous supply of Sandoz products manufactured at the Mahad facility.
Olon plans to invest in the Mahad site and look for business development opportunities to streamline the API manufacturing plant’s utilization and to focus on growing its customer base.
Olon Ceo Paolo Tubertini said: “We look forward to a seamless transition for employees, patients, customers, partners and other stakeholders.
“We are impressed by the know-how at the Mahad plant and intend to leverage their expertise to develop new opportunities in the pharmaceutical market, in India and elsewhere.”
“To accomplish all the objectives listed in the Olon 3 years’ development plan, we will move to the next target: to play an important role in the manufacturing of biologics API’s.”
The acquisition of the Mahad API manufacturing plant is anticipated to be wrapped up in early 2019 after a transition process.