Avesthagen-Cipla buys Siegfreid unit

Bangalore, India-based Avesta Biotherapeutics and Research, a joint venture between Avesthagen and drugmaker Cipla's Meditab Specialities, has acquired Siegfried Biologics, a wholly-owned subsidiary of the Swiss Siegfried Group located in Berlin, Germany. Financial terms of the transaction were not disclosed.

Siegfried Biologicals was set up 10 years ago as a contract manufacturing organization. This acquisition will add process development and Good Manufacturing Practice production capabilities to the technology development 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 $5.0 billion by 2010, predominantly through recombinant proteins, vaccines and monoclonal antibodies.

Villoo Morawala Patell, founder and managing director of Avesthagen, commented: "Avesthagen's foray into the European market with its partner Cipla will bring a new dimension in cross-border technology development and bring cost-effective drugs to the global market at the right time and at the right price."