Nostrum looks to add three to Synovics' board

By Lisa Kerner

Charlotte, N.C., June 20 - Synovics Pharmaceuticals, Inc. investor Nostrum Pharmaceuticals, Inc. will nominate three candidates for election to the company's board of directors at the annual meeting on Aug. 17.

Nostrum's nominees are Nostrum Laboratories Inc. president, chairman and chief executive officer Nirmal V. Mulye, physician/consultant Michael T. Newhouse and KPIT Infosystems, Inc. chief operating officer Sachin Tikekar.

Nostrum noted that Synovics has not previously held a stockholders meeting for "several years" even though Nevada law requires that they be held at least annually.

According to a schedule 13D filing with the Securities and Exchange Commission, Norstrum beneficially owns 10.661 million shares, or 35.99%, of the Phoenix-based pharmaceutical company's outstanding stock.

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