Tatas join hands with Indigene Pharmaceuticals

New Delhi, June 30 (UNI) Indigene Pharmaceuticals (Indigene) and Tata Industries Limited (TIL) today said they have entered into a strategic alliance, to build a global Biopharmaceutical company.

TIL will have a significant equity stake in Indigene, under the agreement.

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

Speaking on the occasion, TIL Chairman Ratan N Tata said, ''The Tata Group has been actively seeking new opportunities in knowledge-based industries. We see a bright future in the pharmaceutical 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.

Indigene is set to launch four CHC products in large self-medication areas in the US initially followed by India and other geographies. The brands include RelaxaneTM (for stress), MemorylTM (for maintenance of memory), Pre-TenseTM (for nervous tension) and LAXelleTM (gentle cramp-free laxative for women).

Indigene anticipates that Indian consumers will get to see the first of its products in 2007.

Having trademarked a new healthcare product category called 'Multiceutics', Indigene Pharmaceuticals has been developing molecular combinations that are optimised to work simultaneously on multiple pathways associated with diseases and symptoms of the human body leading to smarter medicines.

Indigene Pharmaceuticals has established an alliance with the Council of Scientific and Industrial Research (CSIR) for developing leads in selected disease areas.

CSIR Director General&Secretary Dr R A Mashelkar, elaborating on the alliance said, ''Healthcare providers and patients worldwide are seeking safer and cost-effective treatment options. Indigene is well positioned to accelerate CSIR's efforts to translate its initial leads into useful products.'' Explaining the reasons for launching the brands initially in the US, Dr Rao said, ''Indigene is a company promoted by a global entrepreneur from India. Having operations in the US, Europe and India with a global team and partners, its products developed and manufactured across all three locations, Indigene will be launching products initially in the most competitive pharma markets of the world.'' Key investors in the company are the Promoters, the Tata Group and the Sun Group.

Indigene, a biopharmaceutical company, has business and development operations located in Boston-Westborough (US) and Hyderabad.

The Tata Group, with a turnover of over 22 billion dollars, covers 93 major companies with business operations in seven business sectors - IT, Information Systems, Telecommunications, Engineering, Materials, Energy, Chemicals, Consumer Products and Services.

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