UNICHEM LABS TO EXPAND OPERATIONS
Indian drugmaker Unichem Laboratories, after acquiring the remaining 40 percent of the Irish firm Niche Generics, is planning to set up an additional formulation and packaging facility in Ireland. The new facility will accommodate the expansion of Niche's product portfolio and new products from the Indian company.
By acquiring Niche Generics, Unichem began a planed expansion into the European market. The company will begin immediately by exporting a range of active pharmaceutical ingredients (APIs) from its facilities in India to the new plant.
Unichem originally acquired a 60 percent stake in the Irish company in 2002. This joint venture was engaged marketing generic drugs in the European Union. The company now expects to begin exporting drugs to Northern and Central Europe as well.
Unichem currently exports APIs and drugs to more than 25 countries. The company is also looking to expand its Indian portfolio by licensing products from multinational companies.