Indian software major i-flex solutions’ new client FirstCaribbean International Bank, will deploy Flexcube, its banking software, to facilitate the bank's cross-border operations to offer online real-time banking and related e-services.

In market capitalisation terms, the Barbados-based Bank is the largest listed bank in the Caribbean, with nearly $9 bln in assets, 3,300 staff and over 7 lakh accounts. By deploying Flexcube, the bank will have a multi-channel integration solution that will offer its customers a consistent experience across multiple delivery channels. The bank will implement Flexcube's ‘retail and corporate' platform to support Internet banking and ‘connect' platform for channel-integration.

Wockhardt has acquired the business of German pharmaceutical company esparma GmbH. The deal involves a consideration of $11mln and will be funded through internal accruals. This is Wockhardt’s third international acquisition, after the earlier UK acquisitions. The company acquired Wallis Laboratory in 1998 and CP Pharmaceuticals in ’03.

esparma, a profit making company with a turnover of $20 mln, has a portfolio of 135 marketing authorizations, nine international patents and 94 trademarks. This acquisition is touted to provide an entry to Wockhardt into the German market and help strengthen the company’s presence in the European Union.

The deal is unusual in its structuring. Wockhardt has acquired esparma’s business and the sales and marketing organisation. It has not acquired the production facilities of the company. Wockhardt plans to use esparma’s production facilities for the next two years, after which it will move the manufacturing of the products to its own facilities in UK and India.

DPEX Worldwide Express, one of the largest independent non-integrated express network in Asia, is expanding its Indian courier business.

The Indian operation, based in Chennai, has so far been focusing only on the export sector. But the growing market in India has now drawn the company's attention to the national market. The company has identified India and China as its two growth markets.

The courier business, which is largely an unorganised sector in the country, is estimated at $ 888 mln in India and is growing by 20 per cent every year. DHL, Blue Dart (BLDT.BO, news), Federal Express are some of the more established brands in this area.

Dr Reddy's Laboratories has acquired Trigenesis Therapeutics Inc, a US-based dermatology company, in an $11 mln all cash deal. The deal is significant because it jumpstarts Dr Reddy's foray into the specialty drugs segment. The privately owned Trigenesis focuses on dermatology and has worldwide rights and limited territorial licences to certain products.

The acquisition provides Dr Reddy's with access to certain products and propriety drug delivery platforms for deploying a pipeline of differentiated drugs in the dermatology segment. The prescription dermatology product market in the US was around $6 bln in 2002, with a global market in 2003 worth $8 bln and estimated to grow at 5 to 10 per cent per annum.