Albany moves to India

Albany Molecular Research Inc. (AMRI), a chemistry services company based in New York, announced today that it would buy two India-based companies for $11 million. The price includes all of the assets, including facilities, employees, products, and equipment.

AMRI will acquire pharmaceutical manufacturing sites in Aurangabad and Navi Mumbai, both of which specialize in manufacturing the ingredients of medications that treat heart disease and asthma. Additionally, the company will get extra land in Aurangabad, where it intends to invest about $15 million over the next three years.

In the past few years, the company has expanded its research to include operations in India, Singapore, Budapest, and Hungary. AMRI's CEO, Thomas D'Ambro, says that the strategy of locating manufacturing plants to areas of lower cost is crucial to the company's survival.

AMRI does contract work for pharmaceutical concerns looking to outsource. Past research has led to the discovery of medicines such as Allegra, which is developed and marketed by Sanofi-Aventis.

Sources: Forbes, The Business Review, PharmaLive