Avesthagen-CIPLA JV acquires biological company in Germany

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Avesthagen-CIPLA JV acquires biological company in Germany

Avesthagen-CIPLA JV acquires state of the art biological company in Germany

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Avesta Biotherapeutics and Research Pvt. Ltd. (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (CIPLA group), announced the acquisition of Siegfried Biologics GmbH , a fully owned subsidiary of the Siegfried Group in Switzerland.

ABRPL, based in Bangalore, will manufacture a series of biopharmaceuticals for the global markets with an initial focus on the BRIC markets. This acquisition fits into the strategy of being able to manufacture under USFDA and EMEA compliant conditions.  The facility is expected to initially focus on biopharmaceuticals that are presently under development at Avesthagen through the Avesthagen- Cipla joint venture agreement that was signed in May 2004.

Siegfried Biologics GmbH, based in Berlin Germany, was started 10 years ago as a contract manufacturing organization (CMO).  The 50 plus team of people has a solid background and extensive experience in the development of biologics from cell line generation, upstream process development and scale-up to GMP manufacturing. 

This acquisition will add process development and GMP manufacturing capabilities to the technology development prowess of Avesthagen and Cipla's marketing expertise to further strengthen ABRPL's impact on a market presently dominated by small chemical entities.  The Indian biopharmaceutical business, presently estimated at $1.5 billion is expected to grow to about $5 billion by 2010, dominated by recombinant proteins, vaccines and monoclonal antibodies.