Shasun, SeQuent Scientific to form JV

Drug firms SeQuent Scientific and Shasun Pharmaceuticals, on Saturday, said they had signed a letter of intent to form a joint venture company to manufacture, develop and sell veterinary products. The products will include active pharmaceutical ingredients (APIs), and formulations will be sold globally, both companies said in a joint statement. As per the letter of intent (LoI), SeQuent will own 73 per cent of the joint venture company (JVC) while Shasun will own the remaining 27 per cent, it added.