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To cater to the large demands for AIDS medicines matrix and aspen have finalised terms for 2 joint ventures. Hyderabad based matrix would transfer one of its US Food and Drug Administration approved facilty to Astrix including technology and intellectual property rights for some products for $36 million. Aspen and Matrix would each own 50% in Astrix Laboratories Ltd. Matrix said it would buy 50% of Aspens wholly owned unit,Fine Chemical Corp in South Africa, for $20 million. By january 2006 the 2 deals are expected to close. Aspen said in a statement that The JVs strengthen Aspens supply force for APIs to meet the demand for products, most notably anti-retrovirals. |
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| Posted : 9/24/2005 |
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