The pharmaceutical division of Indian API maker Camlin Fine chemicals may be put up for sale by its parent company, stationary giant Camlin, after failing to expand.
Divestiture of the unit, which is one of the oldest active pharmaceutical ingredient (API) maufacturers in the country, is being considered as part of Camlin’s bid to focus on more lucrative areas of its chemical business.
Managing director Ashish Dandekar told India’s Economic Times that: “[the API] business is not growing and we are more focused on fine chemicals, which now accounts (for) more than 80% of our revenue. So we are looking at all options.”
The API unit specialises in making miconozole and amlodipine for anti-fungals and hypertension treatments at its facility in Tarapur near Mumbai.