In 2006, Indian companies continued to use alliances as a strategy to increase their global competitiveness. In February 2007, Reliance Life Sciences acquired UK-based GeneMedix-the first-ever overseas acquisition of a listed biopharmaceutical company by an Indian company. For Reliance, the life sciences arm of India's largest conglomerate, the acquisition provides an opportunity to enter the European market, expand its growing portfolio of therapeutic proteins under development with a complementary portfolio from GeneMedix, and leverage the UK company's manufacturing facilities.
In recognition of the biomanufacturing prowess of Indian companies, French vaccine maker Merieux Alliance acquired a 60 percent stake in Hyderabad-based Shantha Biotechnics in November 2006. Shantha was India's first biopharmaceuticals company to develop, manufacture, and market a recombinant hepatitis B vaccine. The acquisition boosts Merieux's presence in Asia, a key market for vaccines for infectious diseases, and harkens back to 60 percent acquisitions of U.S. biotech companies such as Chiron and Genentech by European pharmas.
Also in November 2006, Hyderabad based Ocimum Biosolutions acquired the BioMolecules synthesis business division of Netherlands' Isogen Life Science. The acquisition, whose deal value was not disclosed, could give Ocimum, a provider of laboratory information management systems, bioinformatics solutions, microarrays, and contract research, the opportunity to become a global player. Indian companies are entering co-development alliances with global companies, often sharing marketing rights. For instance, Biocon co-developed Biomab-Egfr, a monoclonal antibody-based drug for certain cancers, through a joint venture with the Cuban Centre of Molecular Immunology (CIMAB). Biocon holds the marketing rights in India, whereas CIMAB has a licensing tie-up with another company for the U.S., European, and Japanese markets.