Neuland Labs Inaugurates New Manufacturing Facility Constructed For Its Collaboration With Mitsubishi Healthcare Unit API Corporation
--APIC Investment in Dedicated State-of-the-Art Facility Allows Neuland to Produce Competitively-Priced Pharmaceutical APIs and Intermediates for APIC--
HYDERABAD, India, April 8, 2014 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE:NEULANDLAB; BOM:524558) a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and contract manufacturing services to customers located in 85 countries, announced that it has opened a new manufacturing facility constructed as part of its collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, along with fine chemicals and reagents. The new facility, which is located in a Neuland complex in Pashamylaram, Hyderabad, is the first manufacturing facility that APIC has established outside of Japan.
Pursuant to an agreement entered into in March, 2013, Neuland constructed and will operate these manufacturing facilities dedicated to providing APIC with capacity for meeting the needs of its customers for pharmaceutical APIs and intermediates.
Kiyoshi Kondo, President and CEO of APIC, stated, "We welcome the inauguration of our dedicated Neuland manufacturing facility, a world-class operation that has come online just a year after our collaboration agreement was signed. This facility will benefit our growing customer base by rapidly increasing our capacity to deliver high quality, competitively-priced APIs and intermediates in partnership with Neuland, a company with a long history of outstanding quality and regulatory excellence."
"We are pleased to inaugurate these new state-of-the-art manufacturing facilities developed as part of our collaboration with APIC," said Dr. D.R. Rao, Chairman and Managing Director of Neuland Labs Ltd. "This arrangement allows APIC to expand their business in Japan in a timely and cost-effective way, while also helping to raise Neuland's profile as a quality supplier of APIs and intermediates to the Japanese market."
About Neuland Labs
For 30 years, Neuland Labs has been at the forefront of manufacturing APIs through its cGMP manufacturing facilities, working with customers in 85 countries. Neuland Labs has developed more than 300 processes and 60 APIs, and it has filed more than 45 US drug master files (DMFs), 14 EU CEPs and a total of more than 400 DMFs worldwide. Its manufacturing facilities are inspected and approved by the US FDA and other leading regulatory agencies. Its record of quality manufacturing and reliability is highlighted by cGMP certifications that include the FDA, TGA, EDQM, German Health Authority, ISO 14001, ISO 27001 and OHSAS 18001. For more information, visit www.NeulandLabs.com.
Neuland Laboratories Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an offer on a rights basis of its equity shares and has filed a draft letter of offer dated March 26, 2014 with the Securities and Exchange Board of India ("SEBI") and with the Stock Exchanges and is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Manager at www.sbicaps.com.
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