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Phylaxia Pharma signs cooperation agreement with Italy's Sintofarm(Hungarian News Agency Via Thomson Dialog NewsEdge) Budapest, October 24, 2007 (MTI-ECONEWS) - Hungarian veterinary drug maker Phylaxia Pharma on Wednesday said it signed a cooperation agreement with Italian peer Sintofarm on Tuesday. Under the agreement, the companies will assist each other to bring products to market. Phylaxia will make some of Sintofarm's products at its base in Babolna (NW Hungary), and the two companies will cooperate on product registration as well as offer each other exclusive distribution rights. The companies will examine opportunities in the CEE region and could even set up a joint venture. Phylaxia will also gain a stake in one of Sintofarm's Italian units. Phylaxia, which is listed in the 'B' category of the Budapest Stock Exchange, had first-half losses of HUF 29m on revenue of HUF 238m. Losses improved from losses of HUF 82m in the same period a year earlier. Revenue slipped 36pc. (HUF 100 = EUR 0.3980) Copyright 2007 Hungarian News Agency, Source: The Financial Times Limited |