Investor Alert

Feb. 28, 2008, 5:50 a.m. EST

Matrix Labs may sell European generics unit Docpharma

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By Rumman Ahmed

BANGALORE (MarketWatch) -- Matrix Laboratories Ltd. Thursday said it has received board approval to explore strategic alternatives, including a possible sale of its European subsidiary Docpharma.

"After careful review and upon recommendation from its senior management team, Matrix has decided to explore strategic alternatives for Docpharma including a potential sale," Robert Coury, non-executive chairman of Matrix Labs, said in a notice to the Bombay Stock Exchange.

Docpharma markets and distributes generic pharmaceuticals in Belgium, the Netherlands and Luxembourg.

Matrix, in which U.S.-based generic drugs company Mylan Inc. holds a controlling stake, indicated the move is a result of a change in strategy following Mylan's acquisition of the generics unit of Germany's Merck KGaA (MRK.XE).

"Matrix will also continue to focus on its core API (active pharmaceutical ingredients) business and finished dosage form development as well as on the continued growth of its antiretroviral business," Coury said.

-Contact: 201-938-5400

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