IMCD Group will promote APIs made by Italian firm FIS in territories in Eastern Europe and the Southern hemisphere under a new agreement.
The deal -terms of which were not disclosed - will see IMCD market Fabbrica Italiana Sintetici's (FIS) active pharmaceutical ingredients (API) to drugmakers in Hungary, Slovenia, Serbia, Croatia, Macedonia, Bosnia and Herzegovina, Albania, Australia and New Zealand.
An IMCD spokeswoman told in-Pharmatechnologist.com that: "We are promoting FIS products, existing ones and pipeline of new developments, visiting customers, following new developments and projects with customers.
"We are forwarding purchase orders to FIS but FIS is selling, transporting and invoicing customers. FIS is providing us with all shipping documents for customers."
She added that IMCD has worked with FIS' API business since 2009 when it because its agent in Central and Eastern Europe, most CIS countries and Russia and Austria.
Montecchio Maggiore, Italy-headquartered FIS makes anxiolytics, anticonvulsants, antidepressants, analgesics, anti- inflammatory agents, antibacterials, antifungals, cardiovascular drugs, diuretics, oncological products and hormones.
NZ and Australia
The new agreement follows just a few weeks after IMCD increased its presence in the Australia through the acquisition of Bella Vista, New South Wales-based drug and food ingredient distributor Capitol Ingredients.
However, while IMCD told us that it is keen to use its acquisition to expand its presence in Australia's pharma and nutraceutical market - the agreement with FIS will not involve Capitol Ingredients.
IMCD has been building its pharmaceutical business since 2011 when it bought South African chemicals and formulation supplier Ethnichem in 2011.
That pharma related-deal was followed by the acquisition of Italian fine chemicals supplier Organotec , Malaysian ingredient and excipient distributor Maxwell Pharma and – in February this year – India’s Indchem .