By IANS
Ahmedabad : Zydus Nycomed, the 50:50 joint venture company set up by Zydus Cadila and Nycomed, will now take up chemical production of active pharmaceutical ingredients (APIs).
Nycomed plans to transfer its current API production from facilities at Linz in Austria and Singen in Germany to Zydus Nycomed in India over four years. This would result in the manufacture of 18 APIs.
The new development comes in the wake of both companies deciding to expand the scope of the existing joint venture agreement and signing a letter of agreement to this effect, the company said in a press statement here Tuesday.
Zydus Nycomed, formed in 1999, produces key starting materials for the production of Pantoprazole at its plant at Navi Mumbai. Pantoprazole is used to treat conditions in which the backward flow of acid from stomach causes heartburn and injury of the food pipe.
Speaking on the newly expanded agreement, Zydus Cadila chairman and managing director Pankaj R. Patel said: “The need to create a centre of excellence that sets the highest global standards in quality and service has been the very basis of this partnership.
“The new avenue that we have opened up strengthens this premise and will add a new dimension to the mutually beneficial partnership.”
Nycomed’s executive vice-president (operations) Barthold Piening emphasizes the importance of a competitive API production. “World over, the chemical API production is under increasing cost pressures. We will focus on the pharmaceutical production, because this is an area for future innovation where we can utilise all our know-how to compete.”