Asahi Songwon Colors acquires 78% stake in API maker Atlas Life Sciences

Asahi Songwon Colors Limited acquired a 78% controlling stake in Ahmedabad-based active pharmaceutical ingredient (API) maker Atlas Life Sciences Private Limited for ₹48 crore in an all-cash deal, with plans to acquire the remaining 22% by 2025. The company also plans to set up a new plant at Chhatral near Ahmedabad.

“The objective to get into the pharmaceuticals business is to bring value to our shareholders, capitalise on the present China+1 approach of the Indian manufacturers and government push for local manufacturing of the pharmaceuticals raw materials.”thehindubusinessline.com

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• thehindubusinessline.comPigments major Asahi Songwon Colors forays into API - The HinduBusinessLineBL Ahmedabad BureauApr 18, 2022

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