Tuesday, July 28, 2009

Salim Group enters Solagran

Solagran Limited, Australia, has commenced a partnership with Salim Group in the development of human and animal health and nutrition for Asian markets. 
Solagran told ASX this morning that a nomineed of Salim Group has taken 36.9 million shares in Solagran for A$5.54 million. Salim will then control 13% of the ordinary fully paid shares of Solagran. 
Solagran said earlier that the new strategic partner will provide critical support to Solagran's ongoing product commercialization efforts and, in particular, its strategy of gaining access to the vast Asian market with a new range of OTC products for general health and well being, and potential penetration of the pharmaceutical market.
Solagran is focusing on strategies to commercialize its pharmaceutical product range, in particular Ropren which was recently approved in Russia as a hepatoprotector for use in treating chronic hepatitis and hepato-biliary dysfunction.

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