Colorcon Inc on Thursday said it will acquire a majority stake in Mumbai based pharmacueticals products supplier Ideal Cures Pvt Ltd.
Simon Tasker, CEO, Colorcon, said in a statement that the acquisition will expand its business in the Indian subcontinent and complement the business activity of Colorcon Asia Pvt Ltd.
Founded in 1999 in India, Ideal Cures’ products are used to provide aesthetic coatings as well as functional coatings for tablets and capsules. Aesthetic sugar or film coatings allow for swallowability and taste masking
Ideal Cures has three manufacturing plants located in Vasai, Jammu and Khambat; and two state-of-the-art R&D facilities in Mumbai and Vasai. Another plant is under construction in Sikkim.
"This investment ensures that the vision of Ideal Cures is strengthened to continue supporting the healthcare industry in South Asia and further reinforce its relationships with customers," said Suresh Pareek, managing director, Ideal Cures .
Earlier in 2017, private equity firm TA Associates had invested an undisclosed amount in Ideal Cures.https://www.vccircle.com/ta-associates-backs-pharma-products-supplier-ideal-cures
Colorcon designs and develops specialty excipients for solid oral dosages for the pharmaceutical and nutritional industries.
Earlier this week, Colorcon Ventures, the corporate venture fund of Colorcon, invested in personalized nutrition and wellness products provider Remedy Health.