Financial Daily from THE HINDU group of publications
Friday, Jan 06, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 06, 2006 |
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Corporate
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Alliances & Joint Ventures Israeli drug firm inks pact with two Indian companies Our Bureau
MUMBAI: Taro Pharmaceutical Industries, headquartered in Israel, has announced deals with two Indian companies, Alkem Laboratories and J.B. Chemicals, in the span of a fortnight. The outsourcing agreement with Alkem is for the development of finished dosage forms for the US and other global markets, an Alkem note said. Taro's revenues in the US are about $300 million. The alliance with Alkem is for four antibiotic formulations, which it would supply from its plant at Daman, the note said. Taro is among the large generics players in the US. It had set up its India office in January 2004 for exploring outsourcing possibilities for active pharmaceutical ingredients and intermediates. Taro Pharmaceuticals and its affiliates and subsidiaries have also formalised another product-development agreement with J.B. Chemicals and Pharmaceuticals Ltd. Products would be jointly developed for the US market. Details of both agreements have not been disclosed.
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