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THE ECONOMIC
TIMES
December 23, 2004
Avesthagen, Cipla expand ties
Our
Bangalore Bureau
22
DECEMBER
PHARMA major Cipla and Bangalore based integrated biotech
and bioinformatics company, Avesthagen, have expanded the scope of their
ongoing biotherapeutics development programme. The programme includes
development of drugs to cater to the oncology and cardiovascular segments.
"There is presently a dearth of high quality next
generation drugs to cater to these segments at an affordable price. The
collaborative initiative - the first of its kind in the country hopes to
plug that gap", said Dr. Villoo Morawala Patell, founder and CEO,
Avesthagen.
Development of new technology platform for
expression of recombinant proteins forms an integral part of the
partnership, she added. The IP emerging from the development of new
technologies will be shared between the two companies. The companies are
also evaluating options for large-scale manufacturing of products.
The Indian biopharmaceutical business, estimated at $200
million, is expected to grow to about $3.3 billion by 2007-08.
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