Apollo Hospitals Enterprise Ltd has informed the Exchange that "Quintiles,USA, a global leader in pharmaceutical services, in association with Apollo Hospitals, India, the largest health care service provider in India, will be setting up a phase I Clinical trial research facility in Hyderabad at an estimated cost of USD 6 million, through a separate Joint Venture Company to be formed for this purpose. Apollo Hospitals Enterprise Limited ( AHEL ) and Quintiles Mauritius Holding Inc., ( Quintiles ) have entered into a shareholders Agreement in this regard on January 27, 2009 at Hyderabad. Quintiles and AHEL will be funding the project cost in the ratio of 60-40 respectively through a combination of and /or equity.
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