HARLEYSVILLE, Pennsylvania, Oct. 14, 2021 /PRNewswire/ -- Colorcon, Inc., a global leader in pharmaceutical film coatings and specialty excipients, today announces the purchase of a majority share in Ideal Cures Pvt. Ltd., a manufacturer of excipients and ready-to-use coating systems for solid oral dosage forms located in India. The acquisition of Ideal Cures underscores the importance of India in the pharmaceutical sector by providing an expanded service network of manufacturing and technical capabilities, especially for the remotely located economic zones in North India.
Ideal Cures will operate as a fully independent entity within Colorcon. Their business complements Colorcon's position in the Indian pharmaceutical market with a strong presence in the domestic generic sector comprised of long-standing customer relationships sustained by innovative and customized solutions. Additionally, growth of the domestic nutritional market driven by the consumer-led health and wellness trend in emerging markets is supported, targeting ayurvedic (Indian traditional medicines) and herbal supplements.
Simon Tasker, CEO, Colorcon explains "Colorcon views this acquisition as a further opportunity to expand business in the Indian subcontinent and support the continued growth of the Indian domestic pharmaceutical and supplement markets complementing the business activity of Colorcon Asia Pvt. Limited as it services the regulated pharmaceutical industry across India."
Suresh Pareek, Managing Director, Ideal Cures says, "Ideal Cures' vision has been to service its customers at the highest level, and we have always been focused in making sure that the customers derive value through our wide array of products and services. 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."
For 60 years Colorcon has consistently delivered superior products and support services to the pharmaceutical and dietary supplement industries. Ideal Cures manufacturing capacity and products will complement Colorcon's existing infrastructure, extensive product range, and activity in the Indian subcontinent.
For more information, visit www.colorcon.com
SOURCE Colorcon Inc.