Zydus and Mayne (Australia) sign MoU for JV in India
Our Corporate Bureau
13 December 2004
Ahmedabad: Healthcare major Zydus Cadila has tied up with Australian speciality pharma player Mayne group through a memorandum of understanding (MoU) to set up a new joint venture company (JV) for cytotoxic (anti-cancer) finished products and API manufacturing facilities in India.
The JV will leverage Zydus Cadila's expertise in handling complex manufacturing processes in API and a wide range of finished dosage forms and its ability to establish and operate pharma projects of world class standards and secure regulatory approvals from global regulatory bodies like the USFDA. It will also leverage Mayne's longstanding experience in speciality pharmaceuticals, particularly injectable oncology products, regulatory expertise, and its global sales and marketing capabilities. The JV will provide selected high quality products at cost competitive prices in the global generics market.
Mayne stands to gain by diversifying its manufacturing capabilities, meet patent expiry in key target markets and address future capacity requirements. Zydus Cadila gets a partner with a proven track record in manufacturing and marketing of injectable oncology products and other speciality products in the global market.
Mayne Group Limited is listed on the Australian Stock Exchange. It manufactures injectable and oral pharmaceuticals for distribution to more than 50 countries, offers diagnostic services (pathology, diagnostic imaging and medical centres), pharmacy, and makes health-related consumer products.