Actavis acquires Sanmar group

Chennai, Feb 13 (UNI) The International Generic Pharamaceuticals company Actavis has acquired the API (Active Pharmaceutical Ingredient) division of Sanmar Specialty Chemicals Ltd (SSCL), a subsidiary of Sanmar group based in Chennai.

Apart from this acquisition, Actavis had also entered into a service agreement with SSCL to provide Actavis with API Research and Development services at SSCL's research facilities, Actavis President and CEO Robert Wessman told newspersons here today.

This is in addition to the wholly-owned API Development Centre set-up of Actavis in Banglore, which was already in operation, he added.

"The group now has a total of 30 API projects under development in India", Mr Robert said.

He also mentioned that this acquisition strengthen their position in India, providing them with superior backward integration through their leading CRO (Contract Research Organisation) business.

Actavis will continue the ongoing third party business of the Alathur API unit and aimed to increase these sales and further grow the business with current and new clients, he said adding Actavis now has over 620 people employed in India, with operations in Chennai, Banglore and Hyderabad.

UNI