Packaging Leaders MWV and Bilcare Jointly Acquire International Labs, Inc.
Published: Jul 21, 2008
RICHMOND, Va.--(BUSINESS WIRE)--MeadWestvaco Corp. (NYSE:MWV) and India-based Bilcare Ltd. today announced the joint acquisition of pharmaceutical packaging company International Labs of St. Petersburg, Fla. 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, helping to make adherence packaging more widely available to consumers throughout the global marketplace, especially through growing low-cost generic and branded drug programs. The acquisition was completed on July 18, 2008. Terms of the agreement were not disclosed.