Celon, Aurobindo in cancer, hormonal drugs joint venture

Celon Laboratories Ltd has entered a 40:60 joint venture with Aurobindo Pharma to develop, manufacture and market niche oncology and hormonal generic formulations.

Under the deal, Aurobindo and Celon, a company funded by Sequoia Capital, will incorporate a special purpose vehicle for the joint venture, called Eugia Pharma Specialities Ltd. According to a press release, the venture will market the niche products in the US and Europe markets.

Both the companies will make significant investments towards the venture. Celon will transfer to it one of its new hormonal manufacturing facilities at Biotech Park at Shamirpet here, which enables the company to file or submit products for the US and other markets from 2014 onwards.

Celon, focused on oncology, critical care and gynaecology, has research and manufacturing facilities here.

 Source: http://www.thehindubusinessline.com/companies/celon-aurobindo-in-cancer-hormonal-drugs-joint-venture/article5440905.ece