Active Pharmaceutical Ingredient manufacturer, Arch Pharmalabs has informed that it has acquired a majority stake in Benzochem Lifesciences Pvt. Limited for an undisclosed amount.

Mumbai-based Benzochem Lifesciences Pvt. Limited is a privately held company, engaged in the manufacture of Active Pharmaceutical Ingredients and Intermediates in the Oncology and Anti-Malarials space.

The company has a FDA-compliant manufacturing facility in Tarapur and has filed various US and European drug master filed applications for a wide range of cancer drug actives.

Arch Pharmalabs is leading producer of API in the country and is controlled by three PE firms ICICI Venture, IL& FS and SwissTec. The company plans to fund the acquisition through internal accruals and proceeds from the recently- concluded rights issue.