Financial Daily from THE HINDU group of publications
Monday, Jun 06, 2005
Financial Daily from THE HINDU group of publications Monday, Jun 06, 2005 |
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Corporate
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Alliances & Joint Ventures Emcure Pharma signs pact with Iceland co for AIDS drug supply Our Bureau
Mumbai , June 5 PUNE-based Emcure Pharmaceutical Ltd has formalised a deal with Iceland's Actavis Pharma for the supply of AIDS drugs worldwide. A memorandum of understanding (MOU) has also been inked between the countries for the supply of drugs to Russia and CIS countries, an Emcure communiqué said. A delegation led by Mr Satish Mehta, CEO, Emcure Pharmaceuticals, was in Reykjavic, Iceland, recently during the visit of the President Mr A.P.J. Abdul Kalam to Iceland. Mr Kalam and Iceland's President Dr Olafur Ragnar Grimsson, laid the cornerstone of a new Actavis building at the headquarters of the company, which will house the company's development centre, the note said. At the event, Mr Robert Wessman, Chief Executive Officer & President, Actavis Pharma, formally announced the understanding reached between Actavis and Emcure Pharmaceuticals for supply of anti-retrovirals (ARV) drugs used against HIV/AIDs, to various parts of the world. The MoU for supply to Russia was also signed. This is in addition to the existing collaboration between the two companies for supply of generic drugs to the regulated markets. In February 2005, Dr Olafur Ragnar Grimmson had visited Pune and inaugurated Emcure's solid dosages facility at Hinjwadi.
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