PARSIPPANY, N.J., Jan. 31, 2012 /PRNewswire/ -- Royal DSM N.V., (DSM KON: NYSE/Euronext), today announced the signing of an agreement with Indoco Remedies Limited, Mumbai, India, for commercial cooperation for eight Active Pharmaceutical Ingredients (APIs). The alliance came into effect in January 2012.
In line with DSM and Indoco's strategy, this agreement represents a step to forge an alliance to expand presence in markets across the globe. The API's manufactured by Indoco and to be marketed and sold by DSM are used in the production of pharmaceutical Finished Dosages. This alliance will leverage Indoco's product development and cGMP (current Good Manufacturing Practices) compliant manufacturing capabilities and DSM's market access. In addition DSM will use its operation and quality systems to allow faster growth in regulated markets. Alexander Wessels, President and Chief Executive Officer, DSM Pharmaceutical Products (DPP) stated, "This is a step in our announced strategy to accelerate growth via partnerships and expansion in Asia to build a product portfolio along side our custom manufacturing operations, supplying access to high demand treatments. It allows DPP to build a competence base in India." The Indoco alliance is anchored in DSM's API business, DSM Pharma Chemicals, headquartered in Austria.
Mr. Suresh G. Kare, Chairman & Managing Director, Indoco Remedies, commented, "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. Indoco is active in forging such alliances and this one with DSM is a step in that direction. This alliance offers a great opportunity to expand our global presence with a well established partner like DSM." Founded in 1947, Indoco Remedies is one of the leading manufacturers of APIs and Finished Dosages in India for various therapeutic classes. USDMFs (US Drug Master File), CoS (Certificate of Suitability for European Pharmacopoeia) and DMFs ( Drug Master Files) have been filed by Indoco for some products and Indoco has been seeking to expand supplies to markets across the globe, including European and US generic and branded pharmaceutical companies.
DSM was preferred for this strategic alliance by Indoco based on the strength of their longstanding pharmaceutical customer contacts and presence in markets worldwide combined with their deep commitment to quality.
Indoco Remedies Limited
Established in the year 1947, Indoco Remedies is a global pharmaceutical company with a presence across 80 countries. Under the leadership of Mr. Suresh G. Kare, Chairman and Managing Director, Indoco Remedies is a USD 120 million turnover organization employing about 4,000 people. Indoco has a strong brand portfolio of 120 products in various therapeutic segments, including high growth life style segments such as Anti-Infectives, Anti-Diabetics, Cardiovascular, Ophthalmology, Dental Care, Pain Management and Respiratory. Top Indoco brands include Cyclopam, Vepan, Febrex Plus, ATM, Sensodent–K, and Sensoform. Indoco has nine manufacturing facilities for Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in India. Indoco also has a state-of-the-art research centre at Navi Mumbai with over 200 scientists. With approval of its Finished Dosage facilities by the US-FDA, Darmstadt-Germany, TGA Australia, MCC-South Africa and UK-MHRA, Indoco Remedies has emerged as the most suitable partner and provider of Contract Research and Manufacturing Services (CRAMS) to its customers globally.
For more details on Indoco you can visit www.indoco.com
DSM – Bright Science. Brighter Living.™
DSM Pharmaceutical Products is a Business Group of Royal DSM N.V. and is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of about 9 billion euros. The company is listed on NYSE Euronext. More information can be found at www.dsmpharmaceuticalproducts.com and www.dsm.com
This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.
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SOURCE DSM Pharmaceutical Products