The Hindu Business Line : Strides, US co Accu-Break call off joint venture plan

Bangalore May 2 Strides Arcolab Ltd and Accu-Break Pharmaceuticals Inc (ABP) on Wednesday said they have called off their joint venture plan of June 2006.

The two had announced a 50:50 company, to be called Accu-Strides, to develop generic products using Accu-Break's proprietary technologies. (Accu-Break's technology, pending patent, makes tablets that can be accurately split into equal halves, a third or a quarter of dose.)

A Strides announcement said, "ABP's business model subsequently evolved and now includes potential brand sales of bio-equivalent products and out-licensing of certain products. Strides and ABP have determined that the joint venture agreement no longer meets the needs of the parties and have elected to terminate the joint venture with each party to bear its own expenses".

The new company was to have sourced from Strides an exclusive product pipeline of generic and ANDA products in finished dosage forms; Strides was to have been in charge of global sales except in North America.

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