Alembic Pharma forms JV to enter a difficult $100 bn Chinese market

Alembic hold 44% in partnership with China's SPH SINE Pharma, whose stake will be 51%. The JV will set up plant there

Vadodara-based Alembic Pharmaceuticals Limited on Tuesday announced a joint venture (JV) for entering the Chinese market, the world's second largest single country drug market after the US. Indian players like Dr Reddy's Laboratories have presence in the Chinese market while others like Cipla, Sun Pharma and Wockhardt are testing waters. 

The $100 bn Chinese market, estimated to be tough to crack, has recently shown signs of easing regulatory norms to encourage generic players to enter. 

Alembic Pharma has signed a JV with SPH SINE Pharmaceutical Laboratories Co Ltd, China (SPH Sine) & Adia (Shanghai) Pharma Co Ltd, China (Adia) for