Financial Daily from THE HINDU group of publications
Thursday, Mar 10, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 10, 2005 |
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Corporate
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Alliances & Joint Ventures Zydus announces US generics foray Our Bureau
Ahmedabad , March 9 ZYDUS Cadila, the Ahmedabad-based pharmaceutical company, has tied-up with Mallinckrodt Pharmaceuticals Generics, a unit of Tyco Healthcare, to market generics in the US market. Under the terms of the agreement between Zydus Cadila's US subsidiary, Zydus Pharmaceuticals (USA) Inc, and Mallinckrodt, generics products will be developed and registered by the American subsidiary of the Indian company. Manufacturing will take place at Ahmedabad at Zydus Cadila's facility, a company release said here on Wednesday. The partnership between the two companies would initially be for five years and can be extended by mutual consent, it said. "The US generics market is valued at $20 billion and is highly lucrative but competitive. By taking advantage of Mallinckrodt's marketing and distribution network, Zydus Cadila will have extensive reach to a key market. The US company would be able to use our product development and manufacturing strengths to broaden its product base," the release said.
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