The joint acquisition will leverage best-in-class capabilities for adherence-promoting pharmaceutical packaging and streamline the supply chain by eliminating several steps in the distribution channel, said a press release from Bilcare.
The company did not disclose the terms of acquisition.
"The acquisition of International Labs and our partnership with MWV will allow us to combine our global experience, primary and secondary pakaging capabilitiescombined with our riseaerch expertise to serve our consumers," said Mohan Bhandari, chairman and managing director, Bilcare.
US is the largest drug market in the world, which account for almost half of the global drug sales of over $700 billion.
International Labs have a packaging solution Shellpak, a pre-filled easy to use medication package, for generic or copy cat cheap off-patent drugs and for branded drugs.
"This acquiasition is one component of our healthare strategy in product innovation, capacity expansion and other growth investments," said Bruce Thomas, senior vice president, global market strategy for MWV.
