Angelini/Hexal Generics Joint Venture
Italy's Angelini and Hexal Pharma of Germany, two privately-owned drugmakers, have signed a 50:50 joint venture agreement. The objective of the alliance is to develop products which can provide added benefits in terms of their formulation, and which will be marketed in Italy. The JV, to be located in Rome, is to be named Hexan.
Hexal is developing delivery systems for off-patent products with competitive advantages on previous formulations. Hexal claims to be one of Germany's leading generics producers, with annual sales in the $250 million range, while Angelini is a diversified company, with R&D, manufacturing and distribution of prescription drugs, and over-the-counter products, and 1994 sales of $600 million.
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