Financial Daily from THE HINDU group of publications
Wednesday, Sep 15, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 15, 2004 |
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Corporate
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Alliances & Joint Ventures Ind-Swift in contract research pact with European firms Our Bureau
New Delhi , Sept. 14 THE Chandigarh-based Ind-Swift Laboratories has entered into a contract research arrangements worth $3 million to $5 million with two European companies for molecules with a market size of over $8 billion to be completed in the next 18 months. The company is focussing on Contract Research and Manufacturing Services (CRAMS) in a big way and hopes to generate 40-45 per cent of its bottomline to come from here in the next two-three years. Mr V.K. Mehta, Joint Managing Director, said, "The contracts are a part of our focus on the regulated markets where we intend to enter into more such tie-ups and joint ventures for the development of products for the international majors." He further added, "It is a two-pronged strategy, besides development of the products for the pharma majors, in one molecule we are entitled to launch the molecule in the US market and in the other molecule we will be entitled to royalty payment. The tie-up would ensure a smooth entry for the company's products in the regulated markets."
More Stories on : Alliances & Joint Ventures | Pharmaceuticals
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