Periggo Acquires Vedants Drugs

Perrigo has acquired 85% stake of Vedants Drugs and Fine Chemicals. The company now plans to move its active pharmaceutical ingredients (API) manufacturing units from Israel and Germany to India.

According to Vedants, Perrigo has signed a $12m deal and intends to start the production by 2001. Perrigo, as a long term strategy, plans to make India its manufacturing base.

The acquired facility would produce speciality APIs and OTC products.

Joseph Papa, chairman and CEO of Perrigo, said: “By the middle of 2011, we expect this new facility to be on-line and to begin production of certain API products manufactured today in Germany and Israel.

Also, Vedants is planing an EU and FDA complied manufacturing facility at Ambernath, India.