JB, Taro ink product development pact

JBCPL has entered into an agreement with Nasdaq-listed Taro for joint development of several products for the US market.

JB Chemicals & Pharmaceuticals Ltd (JBCPL) said on Thursday that it has entered into an agreement with Nasdaq-listed Taro Pharmaceutical Industries Ltd and its affiliate New York-based Hawthorne, for joint development of several products for the US market.

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The Pharma company informed the Bombay Stock Exchange about the agreement with Taro pharma but did not disclose the details of the agreement.

"We are very happy to partner with a strong vertically integrated company like Taro. This relationship brings together the strengths of the two companies and accelerates JBCPL's ability to become a serious generic player in the US and other markets," JB Chemicals chairman and managing director JB Mody said.