• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

HYDERABAD, March 22

AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,000-crore pharma major, has entered into an alliance with Citadel Fine Pharmaceuticals Ltd (CFPL) for promoting a 50:50 joint venture called Citadel Aurobindo Biotech Ltd (CABL).

In a press communique here on Friday, APL said the CABL would combine the strengths and talents of the two pharma houses.

The joint venture would commence operations with four lines of branded formulations for the domestic ethical markets.

The Citadel division would take over identified branded formulation line of CFPL, while Aurobindo would transfer identified branded formulation lines to this new company.

Citadel brands were expected to contribute around 70 per cent of the turnover of the joint venture company, while the rest would come from Aurobindo. The venture company would focus on specific therapeutic areas such as cardiovascular, diabetology, gasteroenterology, infection, nutrition and pain management.

CABL is expected to record a turnover of around Rs 135 crore in the first year of its operations.

According to Aurobindo Pharma, the new venture would start with a vast marketing and distribution network, top notch formulation research and development capabilities and excellent pipeline of new-generation molecules.

CABL would have 800-strong field force with a network of over 1,500 stockists, distributors and C&F agents across the country, the release said.

Send this article to Friends by E-Mail

Stories in this Section
It's `reorganisation' not stoppage of production, says Maruti

Copyright © 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line