Ipca Labs buys UK-based Onyx Research Chemicals
09 August 2011
Ipca Laboratories Ltd has acquired 100 per cent equity stake in Onyx Research Chemicals Ltd, the holding company of UK-based Onyx Scientific Ltd, for 4.60 million pounds ($7.5 million).
Mumbai-based Ipca Laboratories made the acquisition through its wholly owned subsidiary, Ipca Laboratories UK Ltd, a company release said today.
The acquisition will bring together two contract manufacturing organisations to better serve their customers on a global basis, a company release said.
Onyx's capabilities in chemistry services for medicinal, preclinical and Phase-I/II programmes will dovetail effectively with Ipca's capabilities in supporting Phase-II to commercial scale programmes, the release said.
Onyx, which specialises in medicinal chemistry, process development, custom synthesis and GMP synthesis, supplies to pharma and biotech companies like Nuformix Ltd and Cyclacel Ltd.
Onyx, founded in 2000, is a preferred supplier of chemistry services to large pharma and biotech companies, Ipca added.