Rhein Biotech and Wockhardt Ltd. restructure Indian Joint Venture
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Rhein Biotech and Wockhardt have restructured their Indian production joint venture Wockhardt Rhein Biopharm. In this restructuring Wockhardt Limited acquired 100% ownership of the joint venture. In the new situation Wockhardt Limited has a co- exclusive license on Rhein Biotech’s Hansenula polymorpha technology for the production of Hepatitis B vaccine in India. Rhein Biotech will continue to receive royalties on sales of Wockhardt’s hepatitis B vaccine and future insulin sales and has the freedom to operate in the field of combination vaccines in India. No financials or further details of the agreement are being disclosed.