# 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.

- Type: Acquisition
- Announced: 2022-04-18
- Where: Ahmedabad, Gujarat, India
- Value: $6.30M (480.0M INR)
- Status: announced
- Capacity: 25 tonnes per month
- Products: active pharmaceutical ingredients, pregabalin API, Phenylephrine HCL, Gliclazide, Amisulpride, Levosulpiride
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Asahi Songwon Colors](https://endata.com/companies/42894.md) (acquirer)
- [Atlas Life Sciences](https://endata.com/companies/62346.md) (target)

## Sources

- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/pigments-major-asahi-songwon-colors-forays-into-api/article65332176.ece), 2022-04-18: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.