10/5/2007 8:58:41 AM
BANGALORE, India--(BUSINESS WIRE)--Avesta Biotherapeutics and Research Pvt. Ltd. (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (of CIPLA group), announced the acquisition of Siegfried Biologics GmbH, a fully owned subsidiary of the Siegfried Group in Switzerland.
ABRPL, based in Bangalore, will manufacture a series of biopharmaceuticals for the global markets with an initial focus on the BRIC markets. This acquisition fits into the strategy of being able to manufacture under USFDA and EMEA compliant conditions. The facility is expected to initially focus on biopharmaceuticals that are presently under development at Avesthagen through the Avesthagen-Cipla joint venture agreement that was signed in May 2004.
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