Intas to make drug for Aussie firm

Intas to make drug for Aussie firm

By SiliconIndia   |   Monday, 20 September 2004, 07:00 Hrs
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MELBOURNE: Australian injectable generic drugs maker Mayne Group has lined up Indian drug maker Intas Pharmaceuticals to manufacture one of Mayne's major cytotoxic products in a move to control costs.

Mayne, which has a range of drugs for treating cancer, also said it was pursuing other deals in India and was opening an office in Mumbai to manage quality, manufacturing and other activities.

"As a result of this agreement, Mayne will now have access to contract manufacturing in a patent-friendly, low-cost environment, ensuring Mayne can capitalise on its global sales and marketing presence to access all international markets in a timely and cost-effective manner," the company said.

Ahmedabad-based Intas specialises in contract manufacturing for western drug companies, Mayne said.

Mayne shares closed on Friday at A$3.92, valuing the group's equity at A$2.5 billion ($1.7 billion).

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