Ranbaxy Laboratories has signed an agreement to acquire product rights and manufacturing facility of Bangalore-based Biovel Lifesciences Pvt Ltd, for an undisclosed sum. Biovel's development pipeline comprises of vaccines and biotherapeutics.
This transaction with Biovel provides Ranbaxy an entry platform to manufacture vaccines as well as biotherapeutics. The vaccine and biotherapeutics business would be an important part of its growth strategy as highlighted by the Ranbaxy chief executive Atul Sobti.
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