BASF AG(Germany)announced it has reached an agreement with the private owners of the Swiss company Orgamol,who hold about 75 percent of Orgamol's shares.The deal is part of BASF's plans to expands its Pharma solutions business.Approval for the transaction is still required from Orgamol's Swiss employees,who have a combined shareholding of 25 percent in the company via an employement foundation.In addition,the transaction is still subject to regulatory approval.According to the company,the acquisition of Orgamol would place BASF among the top ten providers of pharma contract manufactuting solutions worldwide.
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