Shilpa Medicare announces new joint venture in Saudi Arabia
Koanna International FZ LLC, UAE (Koanna), a wholly owned subsidiary of Shilpa Medicare, has entered into a definitive agreement with Pharma Pharmaceutical Industries & Biological Products (PPI), a prominent Saudi enterprise to form a new joint venture company based in the Kingdom of Saudi Arabia to build a new pharma manufacturing facility in Saudi Arabia.
Under the terms of the JV, Koanna will supply finished formulations in bulk form in phase 1 and in phase 2 carry out technology transfer for manufacturing formulations and enable local production. Shilpa Group will be responsible for preparing the complete regulatory registration dossier in compliance with the Saudi Food and Drug Authority (SFDA) and will lead the process of obtaining the necessary Market Authorization.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content