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September, 2006 Pragati Maidan, New Delhi, India |
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Strides Arcolab in deal with Turkish
Co to float 50: 50 JV
Strides Arcolab Ltd and Abdi Ibrahim, Turkey's largest pharmaceutical company will sign a 50-50 joint venture agreement to introduce a range of specialty pharmaceutical products developed by the company for the Turkish and neighbouring markets. The new company will be called Abdi Strides will leverage the product pipeline and manufacturing capabilities of Strides and the sales and marketing leadership of Abdi Ibrahim in Turkey.
Accu-Break tablets are designed to provide an optimal dosage for the millions of patients. Currently, Strides has a total of about 12 manufacturing plants worldwide including an FDA approved plant in Bangalore where the Accu-Break products will be manufactured. It is expected that the products using the Accu-Break technologies will be developed for regulatory submission worldwide beginning next fiscal.
The Turkish Pharmaceutical market is currently valued at $6.6 billion and is among one of the fastest growing pharmaceutical markets in the world.
Turkey is likely to join the EU in the near future.
Date: 13-Jun-2006
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