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news.Mitsui & Co, a diversified Japanese conglomerate, has entered into an agreement with India-based active pharmaceutical ingredients (API) manufacturer Arch Pharmalabs to acquire newly subscribed shares of 5% for JPY1.2bn ($13m).
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Mitsui has been a solution provider to pharma firms with services ranging from supplying raw materials, chemical intermediates and APIs to support management of manufacturing as well as provide logistics service to pharmaceutical companies.
Arch has a diverse range of technology and is currently supplying its products to numerous multinational pharma companies based in the US, Europe and the Middle East, for drugs related to hypertension, hyperlipidemia, antibiotics and cancer amongst others.
Mitsui, through this investment into Arch, intends to strengthen its contract manufacturing organization business platform and hopes to take a further role to make a contribution to the pharmaceutical industry by supplying key raw materials both in the Asia Pacific region and the world.