Matrix Lab inks JV with S African firm
Pharma major Matrix Laboratories Limited and the $321 million South Africa-based Aspen Pharmacare Holdings Ltd have forged a strategic alliance for further strengthening of their respective businesses by forming joint ventures in India and South Africa.

Strides Arcolab issues USD 40 million foreign currency convertible bonds
Strides Arcolab Limited, a leading Indian developer and manufacturer of pharmaceuticals announced an agreement to privately place an offering of USD 40 million foreign currency convertible bonds (FCCBs) with Deutsche Bank acting as the sole underwriter subject to shareholder approvals.

SC rejects petitions against Clariant International
IN a development that will have an impact on all subsequent cases related to payment of penal interest to minority shareholders in takeovers, the Supreme Court (SC) has rejected all the review petitions filed before it in the case of Clariant International Ltd (CIL).

Mangalam out with public issue
Mangalam Drugs and Organics Ltd is coming out with a public issue of 65,00,000 equity shares of Rs 10 each for cash at a price of Rs 22 each (including a premium of Rs 12 per share). The issue opens on April 19, 2005 and closes on April 26, 2005.