biocon JV-Abu Dhabi's Neopharma

Add as a preferred source on Google

New Delhi, Jan 5 (UNI) biocon Ltd today announced a joint venture agreement with Abu Dhabi-based pharmaceutical company Neopharma to manufacture and market bio-pharmaceuticals for the GCC countries.

''The Gulf Cooperation Council (GCC) region is an important market for biocon and the joint venture with Neopharma is an important milestone for biocon's global foray. Neopharma has established a world-class manufacturing facility for finished formulations which was inaugurated by President A P J Abdul Kalam in 2003,'' company Chairman and Managing Director Dr Kiran Mazumdar-Shaw said.

The JV will leverage the leadership position that Neopharma commands in the region under the leadership of Dr B R Shetty and expand Neopharma's existing portfolio with a range of the company's generic and novel therapeutics that encompass diabetes, oncology, auto-immune and immunosuppressive drugs, biocon said.