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Matrix Laboratories Ltd is to set up two joint venture companies, one each in India and Ireland, at a total cost of euro 3.9 million for the development of finished dosage of formulation dossiers.
The company in India would be known as Medikon Galenicals Pvt Ltd while the Ireland JV would be christened CEM Pharma Life Sciences Ltd, Matrix informed the stock exchange in Mumbai on Friday.
The JVs would be engaged in development of finished dosage form and formulation dossiers, obtaining marketing authorisations and marketing them to generic companies in Europe, it said.
The investment partners of these 50:50 joint venture companies are H Fischer & Company, International GmbH and CES Beteiligungs GmbH of Germany. CES said both these entities have a substantial interest in the international pharmaceutical industry.