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India’s Matrix To Hold Controlling Interest In Astrix Joint Venture

This article was originally published in PharmAsia News

Executive Summary

U.S.-based Mylan Laboratories and its Indian arm, Matrix Laboratories, have agreed that Mylan will buy a half interest in Astrix Laboratories, a joint venture that makes anti-retroviral active pharmaceutical ingredients. Matrix and Aspen Pharmacare Holdings of South Africa formed Astrix as a joint venture, but decided last year that Matrix would buy out Aspen's 50 percent share. Instead, the plan now is to have Mylan, Matrix's parent, buy 49 percent of Aspen's shares through another Mylan subsidiary and Matrix's immediate parent, MP Laboratories of Mauritius. Matrix, already a 50 percent owner, is to buy the remaining 1 percent for control of Astrix. (Click here for more
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