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news.Indian pharmaceutical company Neuland Laboratories has signed a manufacturing collaboration agreement with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group.
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As per the collaboration, API will invest in Neuland’s facilities to meet the needs of its customers.
The facilities will be operated by Neuland employees and the two companies will share oversight and management responsibilities.
Neuland Labs chairman and managing director Dr DR Rao said the company’s new agreement with APIC is an example of a win-win collaboration between companies that share many values and are complementary in terms of capabilities and markets served.
"We have recently been strengthening our presence in the Japanese market, while APIC was seeking an Indian partner to better serve customers," Rao added.
"This alliance will allow us to raise our profile in Japan while enabling our partner APIC to grow their business in a cost-effective way."
Neuland is also mulling to independently expand its already-sizeable business in Japan, building on its significant customer base for both generic active pharmaceutical ingredients’ manufacturing and contract manufacturing of APIs and intermediates.