Dishman In Talks To Buy Girindus Technology

Mumbai, May 30 | Updated: May 31 2004, 05:30am hrs
In a bid to foray into biotechnology, Dishman Pharmaceuticals and Chemicals Ltd is in advanced stage of negotiation with Girindus of Germany for buying technology. Girindus will be licensing its technology to Dishman Pharma for manufacturing 13 DHA which is a major ingredient in sun tan lotion.

Dishman MD JR Vyas said, "We are gradually reducing our sole dependence on Solvay Pharmaceuticals BV Netherlands. While the supplies to Solvay have been steadily increasing, Dishman is also in advanced stage of negotiation for contracts with world renowned pharmaceutical MNCs and it is likely that a few will get finalised shortly. The deal with Girindus is expected to conclude in a month and the market for the product is estimated to be around Euro 25 mn.

Announcing the result, he added, Dishmans contract research and production business is poised for steady growth. The company has recently entered into two new pacts with a Japanese and European company for contract manufacturing of active pharmaceutical ingredients (API).