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Avesthagen and Cipla Expand Scope of Collaboration
Pharma major Cipla and Bangalore based Avesthagen have expanded the scope of their ongoing biotherapeutics development programme. The expanded pipeline includes innovative next generation drugs that cater to the oncology and cardiovascular segments.
(PRWEB) December 24, 2004 -- Pharma major Cipla and Bangalore based Avesthagen have expanded the scope of their ongoing biotherapeutics development programme. The expanded pipeline includes innovative next generation drugs that cater to the oncology and cardiovascular segments.
This announcement comes in the wake of successes in the ongoing collaborative product development program in autoimmune disorders and oncology that was announced earlier in May this year. The companies believe that though the markets for the chosen areas of collaboration are expanding at a rapid pace in India, there is presently a dearth of high quality next generation drugs to cater to these segments at an affordable price. The collaborative initiative -- the first of its kind in India hopes to plug that gap.
Development of new technology platforms for expression of recombinant proteins forms an integral part of the partnership. The IP emerging from the development of new technologies will be shared between the two companies. The companies are also in the process of evaluating several options for large-scale manufacture of the pipeline products.
The Indian biopharmaceutical business, presently estimated at $200 million, is expected to grow to about $3.3 billion by 2007-08, dominated by recombinant proteins, vaccines and monoclonal antibodies. The Avestha-Cipla tie-up hopes to capitalize on this opportunity as a base, to catapult it into markets abroad.
Dr. Villoo Morawalla Patell, Founder & CEO, Avesthagen mentioned, We are very excited about our collaboration with Cipla and are looking forward to a mutually productive relationship between our two companies. The expansion of the program signifies Ciplas confidence in our delivery capabilities."
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