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Gedeon Richter strengthens its biotechnology business

Gedeon Richter, and Helm, its German partner, have purchased Strathmann Biotec for EUR 22.9m to expand both companies' biotechnology research activities

Hungary-based generics manufacturer, Gedeon Richter, and Helm, its German partner, have purchased German-headquartered Strathmann Biotec for EUR 22.9m to expand both companies biotechnology research activities.

The joint venture will be 70 per cent owned by Gedeon Richter, with Helm holding the remaining 30 per cent. The deal is subjected to regulatory approval.

Strathmann Biotec has a biotechnology plant for bacterial biotechnology, as well as an R&D laboratory and pilot plant capacity. The company employs 81 staff.

Gedeon Richter says that its strategic goal is to establish a strong biopharmaceutical line to expand its worldwide product portfolio by offering products with high added value.

16th August 2007

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