Strides Shasun joins hand with Vivimed

Strides Shasun has inked a pact with Vivimed Labs to set up two joint venture firms. The first venture, a 50:50 joint venture company in India, will own a USFDA approved formulation facility in Alathur, Chennai, and the second joint venture would come up in Singapore and will own various approved abbreviated new drug applications (ANDAs) and a product pipeline. The transaction is expected to close by May 31.