Granules India to set up JV in China

Mumbai, Mar 6 (UNI) Chinese Government today gave an official permission to Granules India to set up a joint venture with Hubei Biocause Heilen Pharmaceutical Company Ltd of China.

Informing the BSE, the company said it had, on October 12, 2006, signed a MoU with Biocause of China. Subsequent, the Government of China gave an official sanction to convert MoU into an agreement for the JV.

Accordingly, the JV in the name of Hubei Granules Biocause Pharmaceutical Co Ltd has been registered and will now become operational. To begin with, the JV Company will manufacture Ibuprofen API(associated pharma ingredient).

UNI