Tatas join hands with Indigene Pharma to build global biopharma

Mumbai, June 30 (UNI) Indigene Pharmaceuticals and Tata Industries Ltd (TIL) today announced that they have entered into a strategic alliance and TIL has taken a significant equity stake in Indigene.

Indigene Pharmaceuticals (Indigene), a rapidly growing biopharmaceutical company with its operations in Boston (US), Europe and India, is focused on developing and delivering molecular combination-based products for global prescription and consumer healthcare markets, a company release issued here today said.

TIL is a Tata Group company that manages the Group's new initiatives and promotes companies.

Talking on the occasion, TIL's chairman Ratan N Tata said, ''The Tata Group has been actively seeking new opportunities in knowledge-based industries. Biotechnology and biopharmaceutical areas offer great potential in creating value and improving the qualtity of life for pople around the world. We see a bright future in pharma industry and indigene, with its unique approach to product development, technology and a highly reputed global team, is well equipped to meet the challenges of the future.

We are pleased to partner with Indigene in its quest to develop and deliver innovative products and pursue new opportunities in healthcare.'' Meanwhile Tata Industrie's Managing Director Kishor A Chaukar said, ''Indigene has made significant advances in bringing together its technology, knowledge base and product and consumer focused business model to make its endeavour commercially viable in a short span of just four years.'' The company is poised to launch its first wave of branded products in the US markets. Indigene is set to make rapid strides in the near future and TIL is committed to supporting indigene in this venture.'' UNI AR MJ SKB1806