Synovics Pharmaceuticals forms a Strategic Joint Venture with Maneesh Pharm... (the JV Synovics will alsohave access to ...)

Synovics Pharmaceuticals forms a Strategic Joint Venture with Maneesh Pharmaceuticals

Date:6/12/2008

the JV, Synovics will also have access to substantial resources to build and operate its business well beyond those available in-house with its current stage of development."

"The Company and I in particular, have great enthusiasm for the alliance with Maneesh. We believe that it represents a significant competitive advantage and potentially great value in a generic market where achieving lowest costs is critical and the driving force for growth. Vinay Sapte, the Managing Director of Maneesh, has demonstrated his keen ability to grow a pharmaceutical organization with his performance in building Maneesh over the past several years. The Company is most fortunate to have Mr. Sapte and other new members of Maneesh on its board together with Harry Singh."

Mr. Sapte commented, "Our zeal for Synovics is obvious by the investment we have made. We have also made Maneesh resources of personnel, operating systems and facility utilization available to the Company and presently have people from both organizations meeting in the US and India. This is in addition to the plan of providing value engineered low-cost manufacturing, product development and regulatory filings for generic drug approvals by the US Food and Drug Administration. We believe we can have an immediate and important impact on the operation of the Company and assist it in accelerating its growth."

About Maneesh:

Maneesh is one of the fastest growing pharmaceutical companies in India. With its headquarters in Mumbai, the financial capital of India, Maneesh is a combination of high quality low-cost manufacturing, product development and international marketing. Maneesh ranks in the top 50 manufacturing companies in the Indian market of more than 8000 companies and is rapidly expanding globally through joint ventures and subsidiaries in more than 70 countries across Africa, South America, Europe, Middle East, and the Asian Continents. Maneesh has a strong marketing presence in its two I
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SOURCE Synovics Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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