Granules India to enter into JV with Biocause

New Delhi, Oct 12: Granules India Ltd today said it will enter into a 50:50 joint venture with China-based Hubei Biocause Heilen Pharmaceutical Company (Biocause), leading manufacturers and exporters of Ibuprofen drug, to manufacture and sell Pharmaceutical APIs, including the drug.

Under the agreement, the manufacturing assets of Biocause, located in Jingmen (Hubei province of China) and currently manufacturing Ibuprofen, will be transferred to the joint venture entity, where both companies will hold a 50:50 stake.

''Biocause's facility is one of the most sophisticated manufacturing sites that we have come across in China. Their high levels of GMP compliance, in addition to their capability to manufacture Ibuprofen for Europe and the United States, will provide us a strong manufacturing base in China for high volume APIs,'' company Managing Director Krishna Prasad said.

This move is in line with its overall strategy of offering end-to-end solutions to companies on OTC products, he added.

Granules India will be responsible for development and growth of the market for the products manufactured by the joint venture.

UNI