Bangalore-based biopharmaceutical start-up Biovel Lifesciences is looking to exit from the life sciences space and is keen for an early outright buyout. Biovel has been in dialogue with several companies including Ranbaxy, Avesthagen, Shantha Biotechnics Ltd and Orchid Chemicals, it is learnt.

Sanofi-aventis, the world's leading vaccine manufacturer, officially launched the construction of a new Sanofi Pasteur vaccine manufacturing centre in Neuville-sur-Saône, France.

The pharmaceutical and biotechnology industry is in the process of consolidating and down-sizing while trying to maintain R&D productivity. Small and medium-sized companies are trying to make the most of available opportunities in niche segments.

Last year, the Biotech industry as a whole achieved much better performance than the market. Both the NASDAQ Biotech Index and AMEX Biotech Index outperformed all three major market indices (Dow Jones Industrial Average, NASDAQ Composite and S&P 500) in a large margin. The major indices declined as much as 40%. While NASDAQ Biotech Index declined only 12.6%, and AMEX Biotech Index was down 17.7%.