USA: Pharma Kingchem Life Science Invests 3 Million Plus Dollars to Acquire Apiscent Labs
The deal will enable Kingchem to establish its maiden R&D and GMP-manufacturing capabilities in the US. In addition to this, the firm will also invest another 2 million dollars for capacity expansion and setting up a new lab.
USA – Kingchem Life Science of Allendale has announced its recent acquisition of Apiscent Laboratories. A total investment of over 3 million dollars was made regarding the business assets and real estate. A new company, Kingchem Laboratories—a subsidiary of Kingchem Life Science—will continue to employ the current staff. In addition, at least 10 new employees, including QA, R&D and production supervisors and operators, will be hired in the coming months.
The acquisition gives Kingchem its initial R&D and GMP-manufacturing capabilities in the United States. Further investments of at least 2 million dollars are planned for the Wisconsin facility over the next 1-2 years for equipment upgrading, capacity expansion, as well as construction of a new GMP kilo lab.
The newly acquired assets will allow Kingchem to offer GMP service to the pharmaceutical industry.