Dishman acquires further 50% stake from joint venture partner Schutz and Co.
Dishman has acquired a further 50% in Indian joint venture company Schutz Dishman Biotech from the existing joint venture partner Schutz & Co, of Germany, for €300,000. After the acquisition, Schutz Dishman, which is engaged in the business of manufacturing of bulk drugs, drug formulations and performance chemicals in India for the export markets, will become a subsidiary of Dishman Pharmaceuticals and Chemicals.
The acquisition will help Dishman in backward integration for some of its existing products and for manufacturing other APIs. Schutz Dishman Biotech's plant is US FDA approved and is located on the existing campus of Dishman’s Bavla manufacturing facility.
Last year, Dishman Pharmaceuticals and Chemicals received a licence from Johnson & Johnson to manufacture the active ingredient for Sirturo (bedaquiline), a drug used in the treatment of multi drug resistant tuberculosis (MDR-TB).
In 2008, Janssen had contracted Dishman to conduct full chemical synthesis of the API at its manufacturing facility in Bavla, Gujarat. Janssen subsequently registered Dishman as a maker of API with the US Food and Drug Administration (USFDA), European Medicines Agency (EMA) and several other Asian regulatory authorities.