India-based Exemed Pharmaceuticals, a manufacturer of active ingredients, is planning to buy UCB's production facility in Vapi, Gujarat, India.
The deal, which is in line with UCB's strategy on bringing new drugs to patients and less on mass manufacturing, includes a multi-year supply agreement between both the companies.
The Vapi plant, upon completion of acquisition, will focus on the production, packaging and distribution of some of UCB's mature drugs for the Indian market.
In addition to the acquisition which brings long-term growth prospects, Exemed is planning to bring new business to the site.
The financial details of the deal have not been disclosed.
Source:
http://inwardinvestment.pharmaceutical-business-review.com/news/exemed-pharmaceuticals-to-buy-ucb-indian-production-facility-231112
