Cipla Ltd. Partners Aspen Pharmacare Ltd. for Australia Foray
8/23/2012 7:49:46 AM
Drug maker Cipla is partnering South Africa’s Aspen Pharmacare to cater to the Australian market, it is learnt. Under the pact, Cipla would develop generic products, to be launched by Aspen in Australia. A source privy to the development told Business Standard, currently, the two companies were identifying products for commercialisation. The move follows a recent buyout by Aspen in the Australian pharmaceutical space. The company had acquired the over-the-counter and pharmaceutical divisions of Australian drug maker Sigma Pharmaceuticals for $800 million. Analysts suggest such a deal with Cipla could help Aspen augment its offerings, while keeping the development cost low.