Tokyo-based API Corporation, a unit of Mitsubishi Chemical Holdings Group, is making an investment in API and pharmaceutical manufacturer Neuland Laboratories’ facilities.
The undisclosed investment “will be specifically used for dedicated capacity within Neuland for the manufacture of certain intermediates and APIs exclusively for APIC and its customers,” Saharsh R. Davuluri, President of Contract Research at Neuland, told in-Pharmatechnologist.com.
The facilities will be operated by Neuland employees and the two companies will share oversight and management responsibilities.
“This agreement between Neuland and APIC is an outstanding example of a win-win collaboration between companies that share many values and are complementary in terms of capabilities and markets served,” Dr. D.R. Rao, chairman and managing director of Neuland said.
Neuland also pledges to independently expand its business in Japan, building on its customer base for both generic API manufacturing and contract manufacturing of APIs and intermediates.
“Specifically, Neuland first started manufacturing pharmaceutical ingredients for Japanese customers in 2003,” Davuluri said, noting that the company established a fully-owned subsidiary in Japan in 2007 and in recent years opened an office in Tokyo.
Neuland supplies APIs and intermediates to both Japanese generic manufacturers and those selling NCEs. It is working to identify additional customers who require reliable partners to produce APIs and intermediates. “Neuland believes there is significant demand in Japan for the high quality products it has been delivering to customers worldwide for almost 30 years,” Davuluri added.