S.Africa's Aspen Plans JV With India's Matrix

Generic drug maker Aspen Pharmacare plans a joint venture with India's Matrix Laboratories Ltd to make active pharmaceutical ingredients (APIs), the South African firm said on Friday. Aspen said in a statement it had signed a memorandum of understanding regarding a joint venture in India to produce the raw materials needed to manufacture finished pharmaceuticals. The two companies will form a second joint venture through the sale of 50 percent of Aspen's 100 percent holding in API producer Fine Chemicals Corporation (Pty) Limited (FCC) to Matrix, Aspen said.

Yahoo News (http://asia.news.yahoo.com/050408/3/1z21v.html)