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news.Ranbaxy has signed agreements with Biovel Lifesciences, Bangalore, India, for the acquisition of product rights and a manufacturing facility. The proposed transaction will give Ranbaxy access to all of Biovel's products, pipeline, IP, know-how and manufacturing facility, located in Bangalore.
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Atul Sobti, MD and CEO of Ranbaxy, said: “With an increasing focus on prevention of disease, the importance of the vaccine market has never been greater. This transaction with Biovel provides us an entry platform to manufacture vaccines as well as biotherapeutics. The vaccine and biotherapeutics business will be an important part of our growth strategy.”
The products under the transaction include Typhoid Vi antigen and Hib conjugate vaccines (for which Biovel has received regulatory approval for India) as well as Biovel’s development pipeline, comprising a range of vaccines, biotherapeutics and other products.
Pratap Reddy, chairman of Biovel, said: “We have created modern manufacturing infrastructure and a robust product pipeline. We are sure that Ranbaxy, with its global market reach, quality and manufacturing expertise, will be able to leverage this to its full potential, and create a business of scale.”