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Our Bureau

Mumbai, May 10

Lupin Ltd has signed a memorandum of understanding with Symbiotec Pharmalab Ltd for a joint venture, by making an equity investment in Symbiotec for a majority stake. The company did not divulge how much stake it would pick up in Symbiotic, an Indore-based company focused on steroids.

Steroids have an application in segments such as respiratory, dermatology, arthritis, contraceptive and pro-pregnancy applications, the company said. Steroidal hormones can be formulated in different forms such as injectables, inhalers, liquid, oral and semi-solid forms. It is estimated that market for steroids is over $10 billion and growing at about 8 per cent annually, the company told the BSE.

More Stories on : Alliances & Joint Ventures | Pharmaceuticals

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