Expansion at China-based Asymchem is underpinned by a 250m RMB ($39m) investment led by Infinity Group. Using the funds Asymchem plans to expand its business with overseas companies.
"Asymchem is a 'one stop shop' and strategic partner for several multi-national pharmaceutical companies. The company has continuously shown steady growth in revenues, even in challenging times", Bella Ohana, managing director of life science at Infinity Group, said.
To support continued growth Asymchem will expand its production capabilities. Infinity Group declined to give Outsourcing-Pharma further details of how its funding will be used.
Asymchem produces raw materials, intermediates, active pharmaceutical ingredients (API) and finished dosages at its sites in China. On its website Asymchem lists addition of a third plant in Tianjin in its expansion plans.
JB Chemicals
India-based JB Chemicals and Pharmaceuticals is also looking to contract manufacturing to grow sales from overseas clients. Export revenues were up 24 per cent in the last financial year and JB Chemical is looking to continue growing business with overseas clients.
“The company plans to build stable revenues through additional focus on contract manufacturing space besides growth strategy for other activities in this business”, JB Chemicals said.
JB Chemicals made the statement following news it will pay shareholders a special dividend related to the sale of its Russia-CIS OTC business to Cilag, a subsidiary of Johnson & Johnson.
“This is a milestone event and a result of stakeholders’ faith in the company. We look forward to strengthening and growing our relationship with Johnson & Johnson”, JB Mody, managing director at JB Chemicals, said after the sale.