Home » News » 01/06 » Wyeth Pharmaceuticals in $40m Indian deal

Wyeth Pharmaceuticals in $40m Indian deal

Date published: 17/01/2006

Wyeth Pharmaceuticals has struck an outsourcing deal with Indian firm GVK Biosciences. The deal is believed to be worth around $40 million, although exact financial details have not been released, and will see GVK Bio providing a range of services in synthetic chemistry research.

The company will also employ 150 chemists to work exclusively on Wyeth projects. Frank Walsh, Wyeth executive vice president and head of discovery research, explained the company choose GVK Bio because of the growing skills base in the area with India's recent adoption of patent laws that meet World Trade Organisation provisions.

Sanjay Reddy, GVK Bio chief executive, said: "This alliance would become a trendsetter in the way contract research business is carried out in India, and pave way for many international companies to look at long-term contracts with Indian CROs [contract research organisations].

"We are absolutely delighted by this development and the confidence that Wyeth Pharmaceuticals has reposed in the scientific talent and execution capabilities of GVK Bio."

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