Colorcon Inc., a provider of pharmaceutical film coatings and specialty excipients, has purchased a majority share in Ideal Cures Pvt. Ltd., a manufacturer of excipients and ready-to-use coating systems for solid oral dosage forms located in India. Ideal Cures is backed by private equity firm TA Associates.
Simon Tasker, CEO, Colorcon explained “Colorcon views this acquisition as a further opportunity to expand business in the Indian subcontinent and support the continued growth of the Indian domestic pharmaceutical and supplement markets complementing the business activity of Colorcon Asia Pvt. Limited as it services the regulated pharmaceutical industry across India.”
Suresh Pareek, managing director, Ideal Cures said, “Ideal Cures’ vision has been to service its customers at the highest level, and we have always been focused in making sure that the customers derive value through our wide array of products and services. This investment ensures that the vision of Ideal Cures is strengthened to continue supporting the healthcare industry in South Asia and further reinforce its relationships with customers.”