Financial Daily from THE HINDU group of publications
Friday, May 20, 2005
Financial Daily from THE HINDU group of publications Friday, May 20, 2005 |
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Corporate
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Alliances & Joint Ventures Zydus ties up with Australian co for cancer drugs Our Bureau
Ahmedabad , May 19 ZYDUS Cadila Ltd has tied up with Mayne Pharma, an Australian company specialising in injectable drugs, for producing anti-cancer medicines. The 50:50 joint venture between these companies will manufacture generic injectable cytotoxic (anti-cancer) drugs as also active pharmaceutical ingredients (the building blocks for drugs) for the international markets, a Zydus Cadila press release said on Thursday. The companies will set up a plant with a capacity of 10-12 million vials in Gujarat. Construction will start in the second quarter of the current financial and the first products from the new venture are expected to be launched by 2007, subject to regulatory approvals, the release said. The joint venture allows Mayne to diversify its manufacturing capabilities, improve its speed to market and address future capacity requirements.
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