Aurobindo Pharma has received an approval for setting up a Joint Venture (JV) with Tergene Biotech, a vaccine development company based in India. The board of directors at their meeting held on February 04, 2015 have approved for the same. Aurobindo will hold a majority stake in the JV and will fund the product development in a phased manner spanning over three years.
Tergene works on development of the Pneumococcal Conjugate Vaccine (PCV) through use of cutting edge vaccine technology compressing time and cost, thereby making such vaccine available at an affordable cost, PCV is a commercially available vaccine with limited competition and a global branded market of more than $5 billion.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up.
