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.
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The exercise provides additional capacity and derisks manufacturing infrastructure, the company said.
The transaction is expected to close by May 31, 2017.
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