The partnership will allow Cheminnova to gain significant stake in exchange for the intellectual property rights for RNL’s product range for some markets and the manufacturing rights for the products worldwide.
With the JV the Australian firm is planning to utilize the combined resources for its vertical integration of research, production, marketing and sales of a range of products, reported pharmabiz.com.
Cheminnova managing director Vasudev Rao told the news agency that the company is taking a significant step towards establishing the new healthcare joint venture with Rapid Nutrition.
Rapid Nutrition managing director Simon St Ledger said the joint venture with Cheminnova will enable the company to manufacture its own high quality finished formulations.