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Taro and Alkem Plan Collaboration
Posted on 2005-12-29 11:51:00
Taro Pharmaceutical Industries Ltd. reported today that it has entered into an agreement with Alkem Laboratories Ltd. under which the companies will 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, general manager of the company.
"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 Mr. Samprada Singh, chairman of Alkem. "We have commonalities of interests and there are numerous opportunities which we are tapping together for future business.''
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