Financial Daily from THE HINDU group of publications Tuesday, Feb 17, 2004 |
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Corporate
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Alliances & Joint Ventures Zydus Cadila in pact with Boehringer Ingelheim Our Bureau
Mumbai , Feb. 16 THE Ahmedabad-based Zydus Cadila has inked a pact with Boehringer Ingelheim India Private Ltd (BIIPL), to continue to manufacture and market Boehringer Ingelheim's gastrointestinal products Dulcolax and Buscopan and cardiovascular drug Actilyse, in the domestic market. According to the agreement, Zydus Cadila will continue to manufacture and market products of Boehringer Ingelheim for a period of 10 years. By mutual consent, the agreement may be extended for a further period of five years, the company said in a recent communiqué. The products will be manufactured at Zydus Cadila's manufacturing plant at Moraiya in Ahmedabad. The agreement between the two companies follows the setting up of Boehringer Ingelheim India Private Limited, a wholly owned subsidiary of the Germany-based Boehringer Ingelheim. Significantly, Boehringer Ingelheim was one of the key collaborators in the erstwhile German Remedies Ltd. Over the last four decades, products of Boehringer Ingelheim have been manufactured and marketed by German Remedies, which has since merged with Cadila Healthcare Ltd, the note pointed out. Cadila Healthcare is the flagship company of the Zydus Cadila Group. Meanwhile, the Zydus Cadila note adds that the two companies could well explore more collaborations in future, given the potential of the domestic pharma industry.
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