Pharma coatings firm Ideal Cures acquired by US-based Colorcon for $250-M

Harleysville, PA (USA)-based Colorcon, Inc. has acquired a majority share in Mumbai-based Ideal Cures, which supplies coatings for tablets and capsules to the pharmaceutical and allied sectors. The deal, reported to be $250 million in size, will mark the exit of Ideal's Private Equity investor TA Associates. Ideal Cures, which will operate as a fully independent entity within Colorcon, complements Colorcon's position in the Indian pharmaceutical market with a strong presence in the domestic generic sector.