IMCD Group, a leading speciality chemicals and food ingredients company, has acquired the pharmaceutical ingredients business of Maxwell Pharma Sdn Bhd, a family-owned Malaysian company.
Commenting on the new business acquisition, TS Cheah, MD, IMCD Malaysia, said, “We are excited about this new acquisition. As one of successful family-owned and run businesses, Maxwell has created a solid market base in APIs and excipients in Malaysia, which we want to promote and further extend across our wider global network.”
The two companies are currently working closely to ensure smooth transition. The acquisition process will be closed on September 30, 2012.
Chew Soon Keong, Owner of Maxwell said: “We are delighted to offer our pharma business to internationally known and trusted company like IMCD. We believe IMCD will further expand speciality pharma ingredients business in Malaysia with their best technical support and knowledge on the market. Meanwhile, Maxwell will continue to focus on our other two businesses of clinical studies and skincare.”
Established in 2000, Maxwell is a distributor of active pharmaceutical ingredients (APIs) and excipients. It also has businesses in clinical studies and skincare.
EP News Bureau
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