Indian drug firm Lyka labs signs tech transfer pact with Turkish firm

New Delhi, Dec 30 (PTI) Indian drug firm Lyka Labs has entered into a technology transfer pact with a Turkish pharma firm for adopting a manufacturing process that enables longer storage of medicines, entailing a cost of USD 250,000 and royalty payments for five years. "The company has recently entered into a technology transfer agreement with a pharma company based in Republic of Turkey for a lyophilized formulation, for a consideration of USD 2,50,000 and Royalty for five years," Lyka Labs said in a filing to Bombay Stock Exchange in Mumbai. Lyophilization is a manufacturing process that helps pharmaceuticals to be stored for a long period without degradation in materials. The company had also entered into a technical assistance agreement for lyophilized formulations with a company based at Indonesia in November. PTI