Shasun Chemicals & Drugs has signed a letter of intent with France-based Rhodia group to acquire the pharmaceutical customs synthesis business of Rhodia Pharma Solutions (RPS).According to a release issued by Shasun to the BSE today, both the parties have entered into an exclusivity agreement to progress towards the final sale and purchase agreement, which is expected to be completed before March 31, 2006."The transaction essentially includes all of RPS development and custom manufacturing services catering to innovator and emerging pharmaceutical clients in US, Europe and Asia. The proposed transaction includes manufacturing sites at Dudley and Annan located in the UK. Technologies like hydrolytic kinetic resolution (HKR), aromatic bond formation (ABF) and radical Trifluoromethylation with patents are part of the transaction. All products and building blocks related to the technologies are also part of the transaction," the release added.N Govindarajan, chief executive officer of Shasun, said: "The proposed acquisition is in line with Shasun's strategy of enhancing its global presence in APIs, custom synthesis and contract manufacturing. Shasun will be in a better position to serve pharmaceutical industry clients throughout the drug life cycle by offering services for pre-launch, launch, and post launch supply as well as late life cycle and also expand customer base across innovator and emerging pharma companies."
