Matrix parent buys Aspen's share in Astrix Laboratories

In a move cheered by investors, Indian pharmaceuticals firm Matrix has persuaded its US-based parent Mylan Laboratories to purchase Aspen's stake in the Astrix joint venture.

Andhra Pradesh-based Matrix Laboratories, a manufacturer of active pharmaceutical ingredients API and solid oral dosage forms, has assigned to its US-based parent company, Mylan Laboratories, the rights to buy the bulk of Aspen Pharmacare Holdings' 50% stake in a joint venture with Matrix. The consideration for the deal has not been disclosed.

The joint venture, Astrix Laboratories, is an Indian-based producer of anti-retroviral APIs. It was established as a 5050 JV between Matrix and Aspen, a South...

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