Granules India signs MoU with China's Biocause

Hyderabad, Oct 12 (UNI) Granules India Ltd, an entity specialising in manufacturing pharmaceutical formulations, today signed a Memorandum of Understanding (MoU) with Hubei Biocause Heilen Pharmaceutical Company (Biocause) of China, one of the leading Ibuprofen manufacturers and exporters in the world, for a Joint Venture (JV).

Under the MoU signed, Granules will acquire a 50 per cent stake in the JV entity, which will manufacture and sell Pharmaceutical APIs, starting with ibuprofen, according to Granules India Managing Director Krishna Prasad.

Granules India would facilitate market growth for the products manufactured by the JV entity.

He said the JV was expected to be operational by January 2007 and the sales would touch USD 25 million.

"The JV is in line with our overall strategy of offering end-to-end solutions to companies on OTC products'', he added.

UNI DB AJ 1640