Generic drugs manufacturer Aspen Pharmacare has formed a joint venture with Indian pharmaceuticals group Matrix Laboratories, which will strengthen the group’s vertical integration into the manufacture of active pharmaceutical ingredients, a key material in pharmaceuticals.

Aspen said on Friday it had signed memorandums of understanding with the Indian group, which are still subject to regulatory approval.

The active pharmaceutical ingredients are to be used in drug manufacture, including antiretrovirals.

Aspen shares rose 0.56 percent to end at 21.65 rand on the JSE on Friday.

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