The Ahmedabad-based pharmaceuticals major Cadila Pharmaceuticals Ltd (CPL) has joint ventured with the US-based vaccine company, Novavax as per the agreement signed between the two companies in March 2009. This new venture called 'CPL Biologicals Pvt Ltd' will work in the area of development and manufacturing of therapeutic and prophylactic vaccines, biological therapeutics and diagnostics in India.
I A Modi, chairman of CPL Biologicals, said, "This joint venture represents an important strategic alliance for vaccine development and manufacturing in India and uses unique and cutting-edge vaccine technology. Our vision is to be a leading provider of high quality, affordable vaccines, biological therapeutics and diagnostics through world-class research and innovative manufacturing to address current and future global health challenges."
The new joint venture (JV) will develop novel vaccines based on 'Virus Like Particles' (VLP) using cutting edge technology. This technology significantly compresses vaccine manufacturing time as compared to the conventional methods. Furthermore, an additional feature about the VLP technology is that it mimics the virus without the ability to cause infection.
CPL Biologicals will establish manufacturing facilities in India to develop, produce and sell products such as influenza vaccine, and other novel vaccines based on VLP technology. Looking at the global spread of swine flu and the WHO's announcement of declaring it as a pandemic, the swine flu vaccine is an urgent need. A special initial focus is to develop the pandemic H1N1 influenza vaccine candidate (Swine flu vaccine) in India that Novavax is developing in the United States.
The initial investment in CPL Biologicals is about Rs 100 crore. Cadila Pharmaceuticals Ltd. (CPL) is also a significant shareholder in Novavax, Inc. USA and has a position on the Board of Directors of Novavax.
With this alliance, a new era in the field of vaccine development has started in India. The company aims to produce and market biologicals in India before the end of the fiscal year 2009-10.