Business Daily from THE HINDU group of publications
Friday, Sep 22, 2006
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Business Daily from THE HINDU group of publications Friday, Sep 22, 2006 ePaper |
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Corporate
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Alliances & Joint Ventures
Our Bureau
Mumbai , Sept 21 Ipca Laboratories Ltd has entered into a strategic alliance with Ranbaxy's wholly owned subsidiary in the US to market the former's products. Florida-based Ranbaxy Pharmaceuticals Inc sells generic and branded prescription products in the US. Ipca will develop generic prescription pharmaceutical products that will be marketed by Ranbaxy in the US, the company told the BSE. Ranbaxy will file for regulatory approval and initially support manufacturing of these products, it added. The first product that will be launched under this alliance will be the Furosemide tablet, in multiple strengths of 20 mg, 40 mg and 80 mg. This drug had recently received US regulatory approval. Ipca is also setting up a manufacturing facility at an estimated Rs 60 crore to make finished dosage forms of medicines. The plant will meet US regulatory requirements and would be located at the SEZ in Indore, the company said. On Thursday, Ipca shares closed at Rs 373.55, up 2.47 per cent, on the BSE. The Ranbaxy scrip closed marginally up at Rs 416.75.
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