India/South Africa cheap AIDS drugs venture announced

Indian drug company Ranbaxy and South Africa's Community Investment Holdings (CIH) have agreed to jointly supply cheaper anti-AIDS drug to three Southern African countries. Ranbaxy will hold a 70 percent stake in the joint venture while CIH, which has investments in key areas of technology, logistics and health, will hold the remaining 30 percent. In a statement Ranbaxy said high-quality low-cost antiretrovirals (ARVs) would be distributed by governments, aid groups, AIDS management companies and retail pharmacies in South Africa, Botswana and Namibia. The Indian drug manufacturer, which has a significant presence in South Africa, has been providing generic ARVs at affordable prices to other developing countries hard-hit by the pandemic.