Merieux acquires stake in India

French biotech major Merieux Alliance has acquired a majority stake in Hyderbad-based Shanta Biotechnics for an undisclosed sum.

Shanta specialises in vaccines, therapeutic proteins and monoclonal antibodies.

As part of the deal Merieux Aliance will hold about 60% of Shanta Biotech, whose turnover is set to exceed Euro 22m during the current financial year.

Shanta Biotechnic founder K. Varaprasad Reddy, will continue as managing director of Shanta, which will become the worlwide centre for prophylactic vaccine activities. 'The deal has helped Shanta to move into a higher orbit and started a golden era for Indian bio-vaccines,' said Dr Varaprasad Reddy.