September 21, 2011 -- Cipla, the Indian generic drugmaker, revealed it has invested $165 million to build facilities in China and India to produce biosimilars. The company is working on developing copies of at least a dozen biotech drugs with a goal of charging only one-third their current price. Last year, Cipla paid $25 million to buy a 25% stake in BioMab, a Shanghai maker of biotech drugs. Cipla and BioMab both contributed to the $165 million investment, though details were not disclosed. More details....
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