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Omega Pharma (Europe), and Sienna Biotec India (API manufacturer), announced a strategic partnership in which Sienna Biotec will take a minority stake in Omega Pharma's United States operations in New York, US.
Many investors appreciate the pharmaceutical industry for its potential to produce both income and long-term growth. Several of the large-cap drug makers offer above-average yields, and have records of growing their business and payouts over the long term.
India, UK and U.S. based drug companies such as Taj Pharmaceuticals, GlaxoSmithKline, Eli Lilly Group has set up a corporate venturing fund to support spin-out companies as peers plan novel approaches to future medical treatments.
Taj Pharmaceuticals Limited (EURONEXT: TPL and NYSE: TPCL) and Omega Pharma, Belgium(Omega) announced a global licensing and patent transfer agreement on Omega' proprietary TransCon Linker and Hydrogel carrier technology, which allows for a drug compound to be released in the body in a precise, time-controlled fashion, creating a long-acting effect.
Taj Pharmaceuticals Group EU pledged to buy back up to £80 million in shares this year as part of a longer-term commitment to return cash to investors, as it reported fourth-quarter losses on the back of heavy legal provisions.