| Cadila plans to commence the construction of the plant in the second quarter of the current financial year. |
| However, the company did not disclose exactly where the facility will be set up and the estimated investment. "Other details are being worked out," said a spokesperson. |
| While Cadila has a presence in more than 40 countries, Mayne is present in 50 countries. |
| "The joint venture with Cadila is part of our strategy to marry our broad international sales and marketing reach with a globally competitive supply chain," Mayne Group managing director Stuart James said in a statement. |
| The venture will allow Mayne to get around Australian rules against companies making a generic drug in Australia for export to countries where the drug patent has expired if the patent is still valid in Australia. |
| Both companies will have equal representation on the board of directors of the new company. |
| The plant will manufacture both solution and freeze-dried products and is expected to have a maximum capacity of about 10-12 million vials per annum. The first set of products is expected to be launched around the middle of 2007. |
| Pankaj Patel, chairman and managing director of Cadila, said in a statement, "With both partners pooling their strengths there is a tremendous advantage in terms of expertise, cost benefits and technology which benefits both companies and the community at large in terms of employment generation and better healthcare therapies." |
| Mayne Pharma's revenue in its 2004 fiscal year was A$3.5 billion and the group runs the businesses of injectable specialty pharmaceuticals, diagnostic services, pharmacy and health-related consumer products. |
| Mayne has a deal another Indian drug maker Intas Pharmaceuticals to make one of its future chemotherapy drugs. |
| Meanwhile, Cadila has a turnover of Rs 1,170 crore. The company has been consolidating operations globally, particularly in Europe and the US. |
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