Taro and Alkem to Collaborate on Product Development

PharmaManufacturing.com
12/29/2005

Taro Pharmaceutical Industries Ltd. (Hawthorne, N.Y.) reported Dec. 29 that it has entered into an agreement with Alkem Laboratories Ltd. (Mumbai, India) to develop products jointly for the U.S. and other markets. Details of the agreement have not been disclosed.

"We believe that this strategic arrangement with Alkem will enable Taro to utilize Alkem's substantial pharmaceutical expertise to enhance our competitive position with specific products in the U.S. and other countries," said Samuel Rubinstein, Taro's general manager.

"We see our alliance with Taro as a very important step in our process of rapid internationalization. Taro is one of our major international partners," said Alkem Chairman Samprada Singh. "We have commonalities of interests and there are numerous opportunities which we are tapping together for future business."