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Article: ELI LILLY BUYS REMAINING 50% STAKE IN JV WITH INDIA'S RANBAXY.
- Article from:
- AsiaPulse News
- Article date:
- July 4, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, July 4 Asia Pulse - United States-based pharmaceutical giant Eli Lilly & Company has bought the remaining 50 per cent stake in the joint venture Eli Lilly Ranbaxy Ltd (ELRL) from its partner Ranbaxy Laboratories for US$17 million, a top company official said today.
"The US$17 million deal includes the brand name and shares, which will be transferred to the parent company Eli Lilly in August this year," Rajiv Gulati, Managing Director of Eli Lilly (India operations) told reporters here.
About the future plans in the country, Gulati said Eli Lilly, a JV between Ranbaxy and Eli Lilly Netherlands BV, a subsidiary of US-based Eli Lilly since pted ...