WESTCHESTER, Ill., April 2, 2023 — Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has completed two strategic investments in India to expand into high-value pharmaceutical applications.

During the third quarter of 2022, the company acquired Amishi Drugs & Chemicals (AD&C), headquartered in Ahmedabad, India, which manufactures superdisintegrants, lubricants and viscosifiers, complementing its portfolio of starch, mannitol and dextrose product offerings.

In the fourth quarter of 2022, Ingredion secured a majority position in Mannitab Pharma Specialities, based out of Malegaon, India. Started by M.B. Sugars, a leading supplier of specialty sugars to the pharmaceutical industry in India, Mannitab produces spray-dried mannitol for direct compression. Ingredion’s investment will further expand Mannitab’s manufacturing capacity and support global exports.

“These strategic investments expand our specialty pharmaceutical product portfolio to better serve our customers in India, which is one of the fastest-growing pharmaceutical markets globally,” said Jim Zallie, Ingredion’s president and CEO.

As a result of these strategic investments, Ingredion’s portfolio of functional excipients now includes binders, fillers, superdisintegrants, lubricants, gelatine replacers for softgels, viscosifiers, encapsulation materials and parenteral grade dextrose. Ingredion manufactures these highly functional materials under stringent pharma Good Manufacturing Practices (GMPs) and supports its customers with regulatory expertise and collaborative technical support.

“Ingredion looks forward to partnering with pharma and nutraceutical formulators and helping them meet regulatory challenges, progress drug development and identify emerging trends,” added Rana Kayal, global director for Pharma & Nutraceuticals.

About Ingredion Pharma & Nutraceuticals

Ingredion Incorporated (NYSE: INGR) is a global innovative ingredient solutions provider serving customers for more than 100 years in more than 120 countries. For pharma and nutraceuticals, the Company partners with formulators seeking excipients to enhance the performance of formulations and overcome their technical challenges. The Company’s pharma solutions include binders, fillers, superdisintegrants, lubricants, gelatine replacers for softgel encapsulation, viscosifiers and parenteral APIs for different dosage forms. In line with current and emerging trends and regulations, the Company is in the continuous transformation to combine CGMP facilities, regulatory assistance, worldwide presence and collaborative technical support to be a trusted formulation problem-solving partner to its customers.

About M.B. Sugars

M.B. Sugars & Pharmaceuticals Private Limited (“M.B. Sugars”) with over three decades of legacy is engaged in the business of specialty ingredients for the pharmaceutical, food and nutraceutical Industries. M.B. Sugars was established in the 1990s with the intent to provide high-quality import substitutes to the Indian Pharmaceutical Industry. M.B. Sugars has since stuck to this vision and developed several high-quality excipients in its state of art cGMP compliant manufacturing plant in Maharashtra, India. The company has been a leader in pharma-grade sucrose and sugar spheres. M.B. Sugars has been a trusted partner for over 200 pharmaceutical companies pan India and has a presence in more than 30 countries.

About Mannitab Pharma Specialities

Mannitab Pharma Specialities Private Limited (“Mannitab Pharma Specialities”) was incorporated in 2022 and the Mannitol division of M.B. Sugars was spun off into Mannitab Pharma Specialities. Mannitab Pharma Specialities will be leveraging the combined strengths of Ingredion and M.B. Sugars in expanding its reach and enhancing customer service.