AMRI Acquires Pharma Sites In India

Company paid $11 million for the assets of pharmaceutical manufacturing sites in Aurangabad and Navi Mumbai, India; has plans for expansion over the next three years.

ALBANY, N.Y. - Albany Molecular Research, Inc. (AMRI) announced Monday that it will acquire two pharmaceutical manufacturing sites and land for future expansion in Aurangabad and Navi Mumbai, India.

AMRI is purchasing the facilities, employees, products and equipment of Ariane Orgachem Pvt Ltd. in Aurangabad and Ferico Laboratories Ltd. in Navi Mumbai for $11 million.

The facilities involved are owned by the Runwal Group and manufacture a range of pharmaceutical intermediates and bulk active ingredients.

AMRI purchased additional land in Aurangabad and plans to invest $15 million to expand capabilities over the next three years.

The transaction is expected to close in the second or third quarter of 2007.

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