ACG, a provider of integrated pharmaceutical manufacturing solutions, has purchased a significant stake in India-based contract research organisation (CRO) IQGEN-X.
Based in Mumbai, IQGEN-X provides niche and complex drug development technologies for the pharmaceutical industry.
IQGENX was founded in October 2016 to provide advanced research and technology for the production of quality and effective medicines.
The company has a modern research and development (R&D) facility for niche and complex generic products. It offers technology transfer, regulatory, IP and compliance services to meet the requirements of the US, European and other regulated markets.
IQGEN-X chairman and CEO Dr Mandar Kodgule said: “ACG’s strategic investment augments our technical expertise, portfolio strategy and corporate vision to create a robust portfolio of limited competition complex products for regulated markets.
“We believe that this partnership will open several other opportunities which will accelerate growth of both companies.”
The acquisition of IQGEN-X will allow ACG to further expand into the R&D side of drug development and improve experiences across the supply and value chains.
ACG’s funds will also allow IQGEN-X to establish a cGMP pilot facility, in addition to the development and filing of new abbreviated new drug applications (ANDAs).
ACG managing director Karan Singh said: “For ACG, this partnership will immediately help expand our group capabilities, and will accelerate our innovation strategy of bold, disciplined investment and world-class execution to drive sustainable long-term growth with drug companies in India and global markets.”
With operations in more than 100 countries across six continents, ACG’s product portfolio comprises capsules, film and foil barriers, engineering equipment and inspection systems.