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    • Granules India to sell...

    Granules India to sell entire stake in Granules OmniChem to JV Ajinomoto

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-08-30T09:45:24+05:30  |  Updated On 30 Aug 2019 9:45 AM IST
    Granules India to sell entire stake in Granules OmniChem to JV Ajinomoto

    GOC is an equal joint venture between Granules India and S A Ajinomoto Omnichem NV (now doing business as Ajinomoto Bio-Pharma Services), an integrated contract development and manufacturing organization. The manufacturing facility of this joint venture entity is located in Visakhapatnam.


    Hyderabad: Pharmaceutical manufacturing firm Granules India said on Thursday it will divest its entire equity shareholding in Granules OmniChem (GOC) by selling its stake to the joint venture partner.


    GOC is an equal joint venture between Granules India and S A Ajinomoto Omnichem NV (now doing business as Ajinomoto Bio-Pharma Services), an integrated contract development and manufacturing organization. The manufacturing facility of this joint venture entity is located in Visakhapatnam.


    "The proposed divestment of our 50 per cent stake in the joint venture aligns with our focus on strengthening our core area of business," said Granules India Chairman and Managing Director Krishna Prasad Chigurupati.


    Read Also: Granules India arm wins USFDA approval for stimulant drug Amphetamine Sulfate tablets


    "With this transaction, Ajinomoto Omnichem will take over full control of the contract research and manufacturing services (CRAMS) business. I believe this is a win-win situation for both the companies as we continue to build upon our business model based on our area of concentration," he said in a statement.


    Granules India produces finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients. It has six manufacturing facilities in India, one in China and one in the United States.


    Read Also: Granules India gets 2 USFDA observations for Chantilly facility

    AjinomotoAjinomoto OmnichemchinaCRAMSGOCGranulesGranules IndiaGranules OmniChemGranules stakejoint ventureKrishna Prasad Chigurupatipharmapharma companypharma newspharma news india
    Source : ANI

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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