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Tata Industries picks up stake in Indigene Pharmaceuticals

by Medindia Content Team on June 30, 2006 at 5:51 PM
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Tata Industries picks up stake in Indigene Pharmaceuticals

Tata Industries Ltd today said it has acquired a significant stake in Indigene Pharmaceutical, a subsidiary of US-based indigene Pharma Inc , for an undisclosed amount.

Indigene, which is involved in biopharmaceuticals, has been in the business of both prescription and consumer healthcare products.

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Commenting on the strategic alliance with Indigene, Tata Group Chairman Ratan Tata said the group has been actively seeking opportunities in knowledge-based industries.

"Our strategic alliance with Tatas enables us to leverage the Group's reputation and vision, nurturing the growth phase of ventures and creating fundamentally strong organisations," Indigene Chairman and CEO M Vaman Rao said in a statement.
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