Strides Arcolab unit, Pfenex in biosimilars JV

Agila Biotech, a unit of Indian drugmaker Strides Arcolab , and U.S.-based Pfenex Inc will develop and commercialise six biosimilars for global markets through a joint venture, the two companies said in a statement.

Agila Biotech will hold a 51% stake in the venture, but both parties will have equal say regarding product development and commercialisation, they said late on Tuesday.