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Our Bureau

Ahmedabad , Jan. 12

The Ahmedabad-based Intas Biopharmaceuticals Ltd, a group company of Intas Pharmaceuticals Ltd, has entered into a joint venture with Progenetics LLC, a US-based company that has created transgenic animals that produce Factor IX, a drug used for treatment of Hemophilia-B in milk.

Announcing the tie-up, Intas Biopharma Managing Director, Dr Urmish H. Chudgar, and the Virginia-based Progenetics' CEO, Dr Julian Cooper, told reporters here on Wednesday that the company would invest Rs 13 crore for development of the drug and subsequent clinical trials that may last two to three years. At present, this drug is imported from the US where its market is worth $300 million.

More Stories on : Alliances & Joint Ventures | Pharmaceuticals

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