Ahmedabad, Mar 11 (UNI) Zydus Nycomed, a joint venture company set up by Zydus Cadila and Nycomed, will now be an Active Pharmaceutical Ingredients (API) manufacturing hub as Nycomed has decided to transfer its current API production facilities from Austria and Germany to India.
The Joint venture company, set up in 1999 to manufacture key starting materials for production of Pantoprazole, has decided to expand the scope of the existing joint venture agreement and signed a letter of agreement to create an API manufacturing hub for global supplies.
Speaking on the newly expanded agreement, the Chairman and Managing Director of Zydus Cadila, Pankaj R Patel said that the need to create a centre of excellence that sets the highest global standards in quality and service has been the very basis of this partnership.
Nycomed's Executive Vice President Operations, Barthold Piening emphasized the importance of a competitive API production. He said ''We will focus on the pharmaceutical production because this is an area for future innovation, where we can utilize all our know-how to compete'', he said.
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