Ranbaxy gears up to develop vaccines
GURGAON, India Ranbaxy Labs has made a foray into the world of vaccines, the generic drug maker announced Tuesday.
The company announced the signing of a deal to acquire a manufacturing plant and products rights from Bangalore, India-based Biovel Lifesciences, which makes vaccines for typhoid and other diseases. Financial terms of the deal were not disclosed.
“With an increasing focus on prevention of disease, the importance of the vaccine market has never been greater,” Ranbaxy CEO Atul Sobti said in a statement. “This transaction with Biovel provides us an entry platform to manufacture vaccines as well as biotherapeutics.”