PI Industries to acquire API unit of Ind-Swift Labs for $206m.

PI Industries, a chemical industry company, agreed to acquire the active pharmaceutical ingredients unit of Ind-Swift Labs, a pharmaceutical company, for $206m. "PI Industries expects to create significant value by leveraging combined capabilities and unlock synergies. The API business of Ind-Swift has diversified portfolio of 20+ products with leadership position (global top 5) in several of them and a good R&D product pipeline. PI has also developed strong R&D pipeline of products and complementary technologies over last few years. Introduction of new and cutting-edge technologies will also enable building a differentiated and sustainable relationship with global customers backed by quality and efficiency," PI Industries.