WETTEREN, Belgium, Aug. 29, 2019 /PRNewswire/ -- Ajinomoto Bio-Pharma Services ("Aji Bio-Pharma"), a leading provider of biopharmaceutical contract development and manufacturing services, announced today its intention to purchase the remaining 50 percent ownership interest in its Visakhapatnam, India joint venture, Granules OmniChem Private Limited (GOC) from its joint venture partner, Granules India Limited. Financial terms were not disclosed.
The GOC joint venture was formed in 2011 by S.A. Ajinomoto OmniChem N.V. (now doing business as Ajinomoto Bio-Pharma Services) and Granules India Limited, providing small molecule intermediates and active pharmaceutical ingredients (API) manufacturing to the pharmaceutical industry.
"This investment is an important follow-up to Aji Bio-Pharma's October 2018 small and large molecule business integration and bolsters our commitment to simplifying our clients' supply chains, while providing a wide range of CDMO offerings," said David Enloe, CEO, Ajinomoto Bio-Pharma Services. "GOC has been a well-run producer of high-quality API since its formation, which was designed, constructed and is managed based on our Belgian sites' GMP operating standards and quality systems. This allows us to provide a seamless experience for our clients as they continue to deepen their partnerships with us on key programs in their product pipelines."
"We are extremely pleased to now be a fully integrated member of Aji Bio-Pharma," said K.V.V. Raju, CEO, Granules OmniChem Pvt. Ltd. He further added, "As an official part of this CDMO, our team can further enhance Aji Bio-Pharma's ability to deliver value to our customers and contribute to the improving the health of humankind mission."
Conclusion of this transaction is subject to fulfillment of certain closing conditions and customary government approvals. Closing is expected to be completed during fourth quarter 2019.
