JB Chemicals enters into agreement with Taro Pharmaceutical industries

Posted Atmyiris.com

JB Chemicals (Q, N,C,F)* & Pharmaceuticals Ltd (JBCPL) has entered into a product development agreement with Taro Pharmaceutical Industries Ltd. (Nasdaq; TARO) and its affiliates and subsidiaries (`Taro` or the ``company`) Hawthorne, New York, USA, for the development of several products jointly for the US market.

Today, the world sees the acceptance of India as a global hub for outsourcing of critical R&D services such as Product Development. The Company's consistent focus on Product Development has resulted in the development of rich captive research capabilities, knowledge and experience. The company plans to leverage these capabilities for any new product development to consolidate its position in the outsourcing of the global generic pharmaceutical industry.

The company's strong and proven capabilities in R&D, state-of-the-art technology and a dedicated team of scientists, is expected to help it capitalize on Contract Research and Development opportunities. The company has been working on this business model for sometime and has shown its expertise in developing and manufacturing products for markets like USA, Australia, South Africa and Europe. The company plans to develop more products for the regulated markets and expects that these initiatives will provide a thrust to the future growth of the company.

January 05, 2006