Arvind Mafatlal Buys Out Iveon Laboratories

The purchase was made under the new joint venture company of the Mafatlal group, which recently commissioned a plant for the manufacture of pharmaceutical products at Ranjangaon near Pune.

The plant, which is under a trial run, is expected to be commissioned this month.

Iveon Laboratories makes bulk drugs, formulations and parenteral products. A Mafatlal spokesman said Fresenius Mafatlal would be able to leverage Iveon