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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Aurobindo and Celon Laboratories form generics JV to cater US and Europe
9:53 AM MST | December 10, 2013 | Natasha Alperowicz
Celon Laboratories (Hyderabad, India) said on Monday that it has entered into an agreement with Aurobindo Pharma (Hyderabad) to form a joint venture to develop, manufacture, and sell hormonal and oncology generic formulations for the US and European markets. A special-purpose vehicle company, Eugia Pharma Specialties, will be formed and in which Aurobindo will hold 60% and Celon 40%. The companies will invest a combined 1.8–2.0 billion Indian rupees ($29.5–32.8 million) in the jv over the next two to three years. Aurobindo, in August, agreed to...
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