labels: industry - general, pharmaceuticals, matrix laboratories
Matrix acquires 43 per cent stake in Swiss firm Explora Labsnews
21 September 2005

Hyderabad: The Hyderabad-based Matrix Laboratories has announced that it has acquired a 43 per cent stake in Explora Laboratories SA, a research and development-focused company based in Mendrisio, Switzerland.

Explora is a closely-held company and expects to record revenues of 2 million Swiss francs for calendar 2005. Matrix, which ended 2004-05 with net sales of Rs641.31 crore and profit after tax of Rs131 crore, has acquired the stake in Explora in an all-cash deal.

Explora Laboratories is into R&D of active pharmaceutical ingredients (APIs) and intermediates through chemical, biochemical and fermentation processes. Its expertise in bio-catalysis is useful in development of high-potency APIs such as anti-cancer molecules. It is also into development of specialised and modified release dosage forms.

Managed by a team of scientists, Explora also possesses know-how in the chemistry of nucleic acids (DNA and RNA derivatives) that are mainly used in the development of anti-viral and anti-cancer drugs.

Explora has filed two patents to cover its inventions in enzymes immobilisation. The company is pursuing third-party research work for a group of generic and branded pharmaceutical companies, including Matrix.

Access to Explora's scientific team would accelerate the entry of Matrix into high potential growth and niche areas such as corticosteroid and anti-cancer segments.

Explora's technology platforms would also provide a unique opportunity to Matrix in the area of contract research and manufacturing for the multinational branded pharmaceutical companies.

 search domain-b
Matrix acquires 43 per cent stake in Swiss firm Explora Labs