Date:13/05/2005 URL: http://www.thehindubusinessline.com/2005/05/13/stories/2005051301670201.htm

Back Strides in pact with KV Pharma

Our Bureau

BANGALORE: Strides Arcolab Ltd today announced that it has signed a licence agreement with KV Pharmaceutical Company, for exclusive marketing rights in the US and Canada for 10 new generic drugs. KV Pharma will also make an investment of $11.3 million through redeemable preference shares.

The agreement also includes exclusive marketing rights in Europe for two of the products and provides for future collaboration between the companies beyond the initial 10 products.

Under the agreement, Strides will develop and submit for regulatory approval and manufacture the 10 products, which collectively target product categories with aggregate branded market value of approximately $2 billion.

ETHEX Corporation, KV's generic/non-branded division, will be responsible for exclusively marketing the products in the territories covered by the agreement.