Cipla Hunts For Biotech Partner In China; Calls Off Deal With India's Avesthagen

MUMBAI - An inordinate delay in the development of three to four biopharmaceuticals by Bangalore-based Avesthagen has led Cipla - India's biggest company in the domestic market - to call off a five-year old partnership and look for joint ventures or collaborations with potential Chinese companies. The disclosure was made to shareholders by Cipla Chairman Yusuf Hamied, at the much-awaited annual general meeting of the company