Aurobindo sets up JV with Diod to make and market generic drugs in Russia

New Delhi : 10 September 2011 :Indian drugmaker Aurobindo Pharma (ARBN: BO) and OJSC Diod, a Russian manufacturer of ecological health care equipment and nutrition supplements, are setting up a 50:50 joint venture, to be named Aurospharma, to manufacture and sell generic pharmaceutical products in the markets of Russia, Belarus and Kazakhstan.

As a part of this cooperation, the JV intends to construct a state of the art plant to manufacture non-penicillin and non-cephalosporin prescription generics and other drugs that are classified as over-the-counter (OTC) products in Russia.