Mumbai: Bilcare along with US-based Meadwestvaco Corp, has acquired a pharmaceutical packaging company International Labs, Florida, for an undisclosed amount.
The domestic pharmaceutical packaging solutions provider said in a filing to the Bombay Stock Exchange that the deal would help to make adherence packaging more widely available to consumers throughout the global marketplace.
Bilcare, however, did not disclose the terms of the agreement and the financial details of the acquisition.
“We are excited about the acquisition of International Labs; our partnership with MVW will allow us to combine our global experience, primary and secondary packaging expertise, and research and development capabilities to serve customers and consumers throughout the world,” Bilcare Managing Director Mohan Bhandari said.
The partnership would combine Meadwestvaco’s (MWV) capabilities in healthcare packaging design and Bilcare’s research and expertise in materials, products, processes and services.
“The combination of our turnkey capabilities has helped enable the creation of new, highly efficient, consumer oriented supply chains that are changing the economies of global healthcare and improving patient outcomes,” MWV Senior Vice President Bruce Thomas said.
Shares of the company were trading at Rs 663.90, up 4.2% on the Bombay Stock Exchange in morning trade.