Business Daily from THE HINDU group of publications
Saturday, Oct 11, 2008
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Business Daily from THE HINDU group of publications Saturday, Oct 11, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Alliances & Joint Ventures Matrix, Aspen pact for divestment Hyderabad, Oct. 10 Matrix Laboratories Ltd will divest its stake in Fine Chemicals Corporation (Proprietary) Ltd, a 50-50 joint venture between Matrix and Aspen Pharmacare Holdings Ltd, South Africa, to the latter. Aspen too, would divest its stake in Astrix Laboratories Ltd, an India-based 50-50 joint venture between Matrix and Aspen, to Matrix. Aspen has retained shareholding in Astrix through a Class B share. Both the companies had entered into agreements in this regard, the Hyderabadbased Matrix informed the BSE. In addition, Matrix and Aspen had also signed long-term agreements for the supply of anti-retroviral (ARV) active ingredients and formulations. "This transaction enables Matrix to significantly increase the reach of its ARV portfolio and, consequently, facilitate access to affordable treatments for HIV/AIDS patients worldwide, particularly in underserved areas," said Mr Robert J. Coury, Non- Executive Chairman, Matrix. - Our BureauMatrix to form joint venture with S.A.'s Aspen Pharma Matrix plans jt ventures with South African co Aspen More Stories on : Alliances & Joint Ventures | Disinvestment | Pharmaceuticals
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