Avesthagen-CIPLA JV

Avesta Biotherapeutics and Research Pvt. ABRPL, a joint venture between Avesthagen and Meditab Specialties Ltd (CIPLA Group), announced the acquisition of Siegfried Biologics GmbH, a wholly-owned subsidiary of the Swiss Siegfried Group. Headquartered in Bangalore, ABRPL will produce a range of biopharmaceuticals for the global market, with an initial focus on the BRICS markets. This acquisition aligns with the strategy to manufacture in compliance with USFDA and EMEA standards. The plant will initially focus on biopharmaceuticals currently under development at Avesthagen through the Avesthagen-Cipla Joint Venture agreement signed in May 2004.