Ivax, Cipla in drug sourcing deal

Mumbai, Dec 3: Generic drug-maker Ivax Corp has entered into agreements with four Indian pharmaceutical companies to jointly develop a basket of 17 generic drugs for the global market, a top Ivax official said on Monday.

Apart from this, Miami-based Ivax already has a deal to source seven generic drugs from leading Indian drugmaker Cipla Ltd.

“India is the only country, where we are working with local pharmaceutical companies on drug development projects,” Mr Jeremy Desai, research & development director at Ivax Pharmaceuticals UK, said in an interview. He said Ivax planned alliances with Indian companies which had technical strengths and manufacturing units that could supply to regulated markets.

— Reuters