Drug firm Strides Shasun today said it has inked a pact with Vivimed Labs to set up two joint venture firms.
The first JV — a 50:50 joint venture company in India will own a USFDA approved formulation facility in Alathur, Chennai, Strides Shasun said in a regulatory filing.
The second JV firm would come up in Singapore and will own various approved abbreviated new drug applications (ANDAs) and product pipeline, it added.
The exercise provides additional capacity and derisks manufacturing infrastructure, the company said.
The transaction is expected to close on May 31, 2017.
Source: Economic Times