The acquisition of MUGI will allow Invida to leverage its full suite of capabilities throughout Indonesia and open up the Indonesian market for Invida’s partners, as well as allowing Invida to offer a range of partnering options in Indonesia.
Local regulations require foreign pharmaceutical entities to operate a local manufacturing facility in order to register their products in the country.
With this agreement, Invida will be able to expand its capabilities in Indonesia to include the importation of raw materials and auxiliaries, possession of any and all regulatory licenses for pharmaceutical products, arrangement of toll manufacturing support where needed, in addition to continuing to provide its marketing expertise throughout the region.
Under the terms of the agreement, Invida has acquired a 70% stake in the company with MUGI’s owners retaining the remaining stake through its investment vehicle. Through Invida’s leadership, the plant will upgrade to ensure that it is able to meet all regulatory compliance requirements and the demands of its international partners.
Invida has said that the agreement is mutually beneficial to both parties and enables MUGI to grow its business and leverage its resources and sales force throughout Indonesia.
The agreement will allow Invida’s partners to gain fully authorized access to the Indonesian pharmaceutical market and to rely on a regional partner who will uphold international standards in manufacturing, licensing, and marketing practices.
John Graham, CEO of Invida Group, said: “With the acquisition of MUGI, Invida also further cements its role as a single point of entry for those companies looking for a strategic partner to access Asia Pacific markets.”