Ash Stevens, Inc., a provider of global contract pharmaceutical drug substance development and active pharmaceutical ingredient (API) manufacturing services, is pleased to announce that the company has been acquired by Piramal Pharma Solutions, a provider of pharmaceutical manufacturing services. According to Dr. Stephen Munk, Ash Stevens' CEO, "This represents an exciting opportunity for our customers and employees. Piramal has a proven track record of growth and investment in the pharmaceutical services sector and is a global leader in APIs, Drug Product, and ADC fields. There are tremendous synergies for our customers brought by Piramal's full service pharmaceutical manufacturing facilities throughout the world & we are excited to be part of a company with such diverse offering."
"The acquisition of Ash Stevens fits well with our strategy to build an asset platform that offers value to our partners and collaborators", said Vivek Sharma, CEO of Piramal Pharma Solutions. He further adds, "North America is a key market that we can now service with our three local facilities - the injectable facility in Kentucky for fill finish needs, the Toronto facility for complex high value APIs, and now, Ash Stevens in Detroit for HPAPIs. Having facilities with a differentiated platform and geographical proximity to clients are keys towards building strategic partnerships. We expect this acquisition to also be synergistic with our other global capabilities. We can now fulfill client requirements for a single source of supply for both high potent APIs and drug products."
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