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Strides Shasun inks JV pact with Vivimed Labs

Press Trust of India  |  New Delhi 

Drug firm Strides Shasun today said it has inked a pact with to set up two joint venture firms.

The first JV -- a 50:50 joint venture company in 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 and will own various approved abbreviated new drug applications (ANDAs) and product pipeline, it added.

The exercise provides additional capacity and derisks manufacturing infrastructure, the company said.

The is expected to close by May 31, 2017.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 18:42 IST