Matrix acquires 43 per cent stake in Swiss firm Explora Labs
21 Sep 2005
Hyderabad:
The Hyderabad-based Matrix Laboratories has announced
that it has acquired a 43 per cent stake in Explora Laboratories
SA, a research and development-focused company based in
Mendrisio, Switzerland.
Explora is a closely-held company and expects to record
revenues of 2 million Swiss francs for calendar 2005.
Matrix, which ended 2004-05 with net sales of Rs641.31
crore and profit after tax of Rs131 crore, has acquired
the stake in Explora in an all-cash deal.
Explora Laboratories is into R&D of active pharmaceutical
ingredients (APIs) and intermediates through chemical,
biochemical and fermentation processes. Its expertise
in bio-catalysis is useful in development of high-potency
APIs such as anti-cancer molecules. It is also into development
of specialised and modified release dosage forms.
Managed by a team of scientists, Explora also possesses
know-how in the chemistry of nucleic acids (DNA and RNA
derivatives) that are mainly used in the development of
anti-viral and anti-cancer drugs.
Explora has filed two patents to cover its inventions
in enzymes immobilisation. The company is pursuing third-party
research work for a group of generic and branded pharmaceutical
companies, including Matrix.
Access to Explora's scientific team would accelerate the
entry of Matrix into high potential growth and niche areas
such as corticosteroid and anti-cancer segments.
Explora's
technology platforms would also provide a unique opportunity
to Matrix in the area of contract research and manufacturing
for the multinational branded pharmaceutical companies.