DSM Pharmaceutical Products (DPP) will sell APIs made by Indian manufacturer Indoco Remedies in a new agreement that fits with its global expansion plan.
The deal – financial terms of which were not disclosed – covers eight active pharmaceutical ingredients (APIs) made by Indoco although specific details of the compounds involved were not provided.
The agreement is in keeping with the strategy DSM outlined in 2010, when Board member Stephan Tanda told in-Pharmatechnologist.com the Netherland-headquartered firm would seek manufacturing and supply partners in Asia.
This was reiterated by DPP CEO Alexander Wessels who said partnering with Mumbai-based Indoco “is a step in our announced strategy to accelerate growth via partnerships and expansion in Asia to build a product portfolio alongside our custom manufacturing operations.
“It allows DPP to build a competence base in India,” he said.
Inoco chairman Suresh Kare also set the agreement in the context of global expansion.
He suggested that: “Today in the era of alliances and partnerships, organizations are coming together to penetrate and capture a larger share of the potential opportunities in the market place.”
News of the Innoco deal comes just a few months after DSM’s collaboration with another Asian partner – anti-infectives ingredient maker Sinochem – was given the green light my competition authorities .