Japanese conglomerate bets $68M on Indian API maker

Japanese corporate giant Mitsui likes what it sees in the Indian CMO market, deciding to buy a nearly 30% stake in API manufacturer Arch Pharmalabs for $68 million. "As demand for generic drugs grows, there is a pronounced trend among generic drug manufacturers to use CMOs in India," Mitsui said in a statement. The investment has cleared India's Competition Commission, a body that has in the past considered halting foreign investments in domestic pharma companies. Report