Royal DSM N.V., today announced the signing of an agreement with Indoco Remedies Limited, Mumbai, India, for commercial cooperation for eight Active Pharmaceutical Ingredients (APIs). The alliance came into effect in January 2012.
In line with DSM and Indoco's strategy, this agreement represents a step to forge an alliance to expand presence in markets across the globe. The API's manufactured by Indoco and to be marketed and sold by DSM are used in the production of pharmaceutical Finished Dosages. This alliance will leverage Indoco's product development and cGMP (current Good Manufacturing Practices) compliant manufacturing capabilities and DSM's market access. In addition DSM will use its operation and quality systems to allow faster growth in regulated markets. Alexander Wessels, President and Chief Executive Officer, DSM Pharmaceutical Products (DPP) stated, "This is a step in our announced strategy to accelerate growth via partnerships and expansion in Asia to build a product portfolio along side our custom manufacturing operations, supplying access to high demand treatments. It allows DPP to build a competence base in India." The Indoco alliance is anchored in DSM's API business, DSM Pharma Chemicals, headquartered in Austria.
Mr. Suresh G. Kare, Chairman & Managing Director, Indoco Remedies, commented, "Today in the era of alliances and partnerships, organizations are coming together to penetrate and capture a larger share of the potential opportunities in the market place. Indoco is active in forging such alliances and this one with DSM is a step in that direction. This alliance offers a great opportunity to expand our global presence with a well established partner like DSM." Founded in 1947, Indoco Remedies is one of the leading manufacturers of APIs and Finished Dosages in India for various therapeutic classes. USDMFs (US Drug Master File), CoS (Certificate of Suitability for European Pharmacopoeia) and DMFs ( Drug Master Files) have been filed by Indoco for some products and Indoco has been seeking to expand supplies to markets across the globe, including European and US generic and branded pharmaceutical companies.
DSM was preferred for this strategic alliance by Indoco based on the strength of their longstanding pharmaceutical customer contacts and presence in markets worldwide combined with their deep commitment to quality.