Matrix Labs today declared that it has picked up a 43% stake in Switzerland based Explora Laboratories to gain access to product portfolios like oncology and corticosteroids. Explora Laboratories is a niche technology platform company. This acquisition is expected to lend Matrix a strategic advantage in terms of exposure to a new class of compounds and also expertise in contract research. Matrix CEO Rajiv Malik said, "It is not a big deal in terms of size. Explora is an R&D start-up company and we are looking at rich dividend in the long run." Mr. Malik also said," The technology platforms, experienced management, pipeline of products and the business contracts that are in place make Explora a unique company. Our investment in Explora makes business sense as this company can add synergy to Matrix in the area of anti-cancer and steroids, the two therapeutic segments in which we are not present at the moment."
The Swiss company, which is currently following a third-party research work for a group of generic and branded pharmaceutical companies, expects to earn revenue of 2 million Swiss francs in the year 2005. Explora is engaged in the R&D of active pharmaceutical ingredients and intermediates through chemical, biochemical and fermentation processes. |
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| Posted : 9/21/2005 |
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