Shilpa Biologicals join hands with Mylab to enter in vaccine and personalised therapeutics business
Shilpa Biologicals Pvt Ltd, a subsidiary of Shilpa Medicare Ltd, has announced a strategic tie-up with Mylab Discovery Solutions, India’s leading diagnostic solutions provider.
Shilpa Biologicals Pvt Ltd, a subsidiary of Shilpa Medicare Ltd, has announced a strategic tie-up with Mylab Discovery Solutions, India’s leading diagnostic solutions provider. With this association, Shilpa Medicare expects to venture into the vaccine and therapeutics segment. Shilpa Medicare is a specialist manufacturer of vaccines and a wide variety of biologicals. To expand their product portfolio in various areas like biosimilars, vaccines and diagnostics, both parties plan to strengthen their partnership by taking advantage of the COVID-19 vaccine manufacturing opportunity.
Mylab expects to leverage the technical expertise of Shilpa Biologicals in the development and manufacture of biopharmaceuticals through its world-class facility at Dharwad and eventually develop world-class diagnostics, vaccines and therapeutics to increase its presence in the healthcare market.
Shilpa Biologicals will utilise its integrated R&D cum manufacturing facility in Dharwad will be used for this purpose. The facility spans over 11 acres and would be used to requirements. develop novel technologies that can enable the production of safe, efficacious and cost-effective vaccines and therapeutics. The first vaccine project under this long-term partnership is currently under the final evaluation phase and the manufacturing is expected to start by March 2022. The shares of Shilpa Medicare zoomed to 2.63% at Rs 488.25 on the BSE, today.
About Shilpa Biologicals Pvt Ltd
Shilpa Biologicals is a fully integrated biopharmaceutical company with a therapeutic focus on immunology and ophthalmics. The company’s disruptive technology platforms enable patient access to high-quality, cutting-edge biopharmaceuticals in the global markets.
The company is also now catering to the growing demand for vaccines from its single use-based facility in Dharwad, Karnataka.