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Nobex files for bankruptcy; Biocon says no impact

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Press Trust of India Mumbai
US-based Nobex Corporation, Biocon's research and development partner, has filed for bankruptcy under chapter 11 of US bankruptcy laws.

According to a release issued by Biocon to the stock exchanges today, it does not anticipate any disruption in the on-going oral insulin research programme licensed from Nobex.

"Biocon has invested $5.8 million in Nobex- $1million in common stock and $4.8 million in convertible loans," the release added.

 
 

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First Published: Dec 05 2005 | 12:14 PM IST

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