India's Cadila Healthcare buys full control of Bharat Serums and Vaccines

India's Cadila Healthcare said it has bought out the shares of Bharat Serums and Vaccines to gain total control of their 10-year-old joint venture, Zydus BSV Pharma, and make it a wholly owned subsidiary.

The JV was formed in 2005 to produce, develop and market new drug-delivery systems of cancer treatments as well as provide contract manufacturing services in the oncology area.

The amount of the buyout was not disclosed. Cadila, a unit of Zydus Cadila, and Bharat each had a 50% stake in the JV, considered one of India's top 10 biotechs.

Zydus BSV recently launched a biosimilar in India of AbbVie's ($ABBV) Humira (adalimumab) for treating autoimmune disorders.

- here are stories from VC Circle and NDTV