Cadila extends tenure of joint venture with Bayer Pte

Drug firm Cadila Healthcare on Wednesday said it has inked a pact to extend the tenure of a joint venture with Bayer Pte ltd for two months to explore possibilities of further collaboration. The company has signed an agreement to extend the tenure of the joint venture with a Bayer Group firm for a period of two months, Cadila Healthcare said in a regulatory filing.

The companies had entered into an agreement on January 28, 2011, for the joint venture, pursuant to which a company was formed to carry on with the business of marketing of pharmaceutical products, it added. Cadila shares were trading 6.54 per cent up at Rs 606.55 apiece on BSE.