Indoco Remedies Limited and Amneal Pharmaceuticals, a New Jersey-based developer, manufacturer and distributor of generic pharmaceuticals announce the finalization of a joint venture partnership to develop, manufacture, market and distribute several products for the United States market.  

The initial product pipeline will include at least ten ophthalmic products, several of which have already progressed substantially through the development process.

Indoco came out with fabulous numbers beating the analyst estimates. Revenues were up 27.75% at Rs.344.43 crore and net profit up 33.50% at Rs.42.04 crore. Commercial production of liquid manufacturing facility at Baddi commenced during the quarter ended September 30, 2007. Indoco got USDFA approval for its Goa facility.

The shares closed strong on BSE at Rs 288 up 4% in the falling market recognizing the good performance by the company.