Aarti Drugs has said it is considering buying an unnamed manufacturer in Himachal Pradesh, India to expand its drug formulations business
The Mumbai-based drugmaker told the BSE about the potential takeover earlier today . The firm explained that it “has considered a proposal to acquire an undertaking/Company at Baddi in Himachal Pradesh to cater its existing business of Toll [contract] manufacturing of formulations as an initiative to have its own facilities for this business subject to necessary diligences and approval processes.”
Aarti operates two production facilities - in Tarapur, Maharashtra and Sarigam, Gujarat – at which it produces more than 50 bulk active pharmaceutical ingredients (API), several pharmaceutical intermediates and a range of speciality chemicals.
Details of the potential acquisition target were not provided.