Transgene Biotek to sell bio-generic product to German company for Rs 26 crore

 
(Ref: The Economic Times)
  • Transgene Biotek agreed to sell its bio-generic product erythropoietin to German company Tss Export for a total consideration of $5 million (over Rs 26 crore), as reported Wednesday in the The Economic Times.
  • "This sale of technology is expected to be completed during a period of approximately 5-6 months," according to a stock market filing by Transgene.
  • Transgene said that with the market for erythropoietin set to become very competitive, management has decided to monetise some of the dormant technologies through either out-licensing or strategic partnerships within and outside India.