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September, 2006 Pragati Maidan, New Delhi, India |
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US cos to source from Nicholas Piramal
Nicholas Pirimal has entered into a $30 million contract with two American pharma companies, including Allegran. Nicholas has agreed to manufacture two high- value anti glaucoma active pharmaceuticals ingredients- levobunolol and brimonidine for Allegran.
As a part of the agreement, Nicholas Piramal for a consideration of Rs.130 million has acquired the Allegran contract from Alpex International, a Hyderabad based company. Alpex was the contract manufacturer for Allegran. The acquisition of the company also includes fixed assets, agreement rights and process IPR.
The entire agreement lasts till October ’11.
Date: 22-Nov-2004
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