Vadodara-based pharma company Alembic Pharmaceuticals Limited announced the signing of a joint venture agreement (ASA) with Chinese companies SPH Sign Pharmaceutical Laboratories Company Limited (SPH sign) and Adia (Shanghai) Pharma Company Limited on Tuesday to promote and sell pharmaceutical products in the Chinese market. Was there. According to information provided by the company on the Bombay Stock Exchange (BSE), the new company under the joint venture will also set up manufacturing unit in China next year.
In the list given on BSE, the company said that the company formed in the joint venture will initially sell the generic and manufacturing generic drugs produced by the Alembic in the Chinese market. This will include oral Solid, Injectable, Nepthology, Dermatology, and Oncology.
All three companies together in this joint venture invest INR 1 crore In this joint venture, SPH sign will be 51%, Alembic Pharmaceuticals will have 44% and Adia Pharmaceuticals will have 5% share.
In the joint venture, the Alembeic’s share will be 44%
Production unit in China under the joint venture will also be made