Aptuit scouts for research acquisitions
Aptuit, the US-based pharmaceutical services company, is planning to aggressively ramp up its India operations. The company, which has got private equity funding from Temasek Holdings and Welsh, Carson, Anderson & Stowe worth $750m is looking at acquiring Indian research companies engaged in clinical trials.
The company is also in talks with several research outfits for joint ventures and is planning to set up a research facility in as well as a packaging unit in the country.
Aptuit is planning to spend a sizeable portion of the PE placement, raised this year and this would make India the hub of its Asian activities.
“Asia is one of the three main geographies for the company and India will be the focal point of activities in Asia. For this, we are looking at setting our own facilities, joint ventures and alliances,” said Frank Wright, chief operating officer, Aptuit.
Besides India, Singapore is the only other country where the company has a presence. Aptuit, which has a research centre in Bangalore, is planning to set up a clinical packaging unit.
