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| Exchange Disseminated Time | Amrutanjan Health Care Ltd has informed BSE regarding "Amrutanjan to form a JV with Austin Chemical, USA"
Announcement :
"Amrutanjan's Fine Chemical Division, in its new Avatar, Pharmaessense, has been providing Value Added Services to several MNCs as a CRAMS (Contract research And manufacturing Services) company. Commensurate with its Classical and Historical excellence in its OTC products for more than a Century, it has been looking at opportunities to enhance this chemical division's market penetration by strategic partnering with a marketing leader in USA.
In this context, both Amrutanjan and Austin have signed an MOU today. Amrutanjan Healthcare Ltd (Chennai, Tamil Nadu, India) and Austin Chemical Company Inc (Chicago, Illinois, USA) are pleased to announce their intent to form a Joint Venture named Amrutanjan Pharmaessense Ltd ("Pharmaessense").
Amrutanjan's facility, based in Alathur, Chennai, will focus on the supply of non-GMP and cGMP intermediates and APIs from gram scale to commercial quantities. The primary target market is Pharmaceuticals in Phase I, II and III. Pharmaessense currently has lab facilities to house 55 scientists and a new world class kilo lab / pilot plant facility that conform to ICH Q7 guidelines (Class 100,000) in addition to a fully equipped GLP analytical lab. With Austin's strength in sales and marketing, distribution as well as sourcing and procurement, the managements of both companies are highly confident that the new synergies will create dynamic high value opportunities." |
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