| Strides inks deal with Australia's Mayne |
| Agencies / Melbourne December 22, 2004 |
| The Bangalore-based Strides Arcolab has agreed to develop and make six specialised, generic injectable and non-cytotoxic drugs for Australia's Mayne Group for sale in the US. According to a release issued by Mayne, the agreement with Strides will help it save on investing in new development and manufacturing capabilities. "Strides has the competencies. So, we will get to market more quickly with less cost than if we had decided to proceed on our own," Mayne chief executive Stuart James said. The specialty hospital drugs that Strides will make for Mayne generated sales of more than $350 million in the year to June 2004 in the United States. Mayne is aiming at starting selling drugs in the United States in 2007 after securing approval from the US Food & Drug Administration. Arun Kumar, CEO, Strides group, said: "We are extremely confident that with Mayne |
