India's Ranbaxy to enter vaccines market in deal with Biovel

Indian drug major Ranbaxy Laboratories, which is 64% owned by Japan's Daiichi Sankyo, has today signed an of agreements with Biovel Lifesciences based in Bangalore, India, to acquire the latter's product rights and a manufacturing facility.

The proposed transaction will give Ranbaxy access to all of Biovel's products, pipeline, intellectual property, know-how and manufacturing facility, located in Bangalore, India.

Ranbaxy had pitched in to acquire Biovel, a little-known, closely-held biotechnology company based in Bangalore, according to information that Business Line obtained from top sources in both the companies earlier this month. Biovel is engaged in developing biogenerics (patent-free biotechnology therapies) and bacterial vaccines and has the capability to do contract research, contract manufacturing and drug delivery systems, according to its web site. It has a liaison office in the USA.