Granules India Ltd. agreed to divest its remaining 50% stake in a joint venture to its partner Ajinomoto Bio-Pharma Services.
The Indian JV company, Granules OmniChem Pvt. Ltd., was formed in 2011 to provide small molecule intermediates and active pharmaceutical ingredients manufacturing to the pharma sector. It will now be fully owned by Ajinomoto Bio-Pharma.
Financial details of the transaction were not disclosed.
The deall's closing, which is subject to closing conditions and regulatory approvals, is expected in the fourth quarter.
Hyderabad-based Granules India manufactures active pharmaceutical ingredients, pharmaceutical formulation intermediates and finished doses.
San Diego-based Ajinomoto Bio-Pharma focuses on small and large molecule manufacturing, drug product manufacturing and other preclinical trial supply services.
