Bangalore-based Sami Labs Ltd has acquired the biotech arm of KCP, a Chennai-based 73 year old business group with interests in cement, heavy engineering, sugar, power, biotech and IT, for Rs 5 crore, as per a company release.
Sami Labs manufactures and markets phytonutrients and standardised herbal extracts, specialty fine chemicals and organic intermediates used in the nutritional, pharmaceutical and food industries.
With the addition of this manufacturing facility and the existing facility situated at SP Biotech Park Genome Valley in Hyderabad, Sami will have seven manufacturing units across the globe.
“With this new addition we are expecting our output tonnage capacity to go up by 60 to 75 tonnes per day. The next step is to add new products to our kitty of existing ones which will allow us to accelerate new products to market ensuring quality standards,” said Muhammed Majeed, founder and managing director, Sami Labs Ltd.
Majeed established Sabinsa Corporation during the year 1988 in the state of New Jersey, USA with the objective of importing and marketing generic drugs into the US for the drug molecules coming off patent.
Later he introduced into the US market a new line of products based on Indian herbal plants. Sami Labs Limited (formerly known as Sami Chemicals & Extracts Limited) was set up in 1991 in Bangalore as a research and development facility. During 2002, Sabinsa Corporation was merged with Sami Labs through a reverse merger transaction.
Sami-Sabinsa group has grown into a health science multi-national organisation with presence in USA, Europe, Japan, Australia, China, UAE, South Africa, Vietnam and Malaysia.