Medreich, Adcock Ingram Holdings sign MoU

Bangalore, Feb 8 (UNI) Medreich Ltd, which has its world class manufacturing production facility here, and Adcock Ingram Holdings, leading healthcare company based in South Africa, have signed an agreement to set up a joint venture in the city to cater to the South African market.

Medreich Chief Executive Officer Rajeev Mehta, in a release here today, said ''Medreich and Adcock Ingram as equity partners will together invest US Dollar 16 million (Rs 71 crore) in this JV.'' Adcock Ingram was part of Tiger Brands, a JSE and LSE listed company with a market capitalisation of US Dollar 3.1 billion.

UNI