Ipca Laboratories has entered into a 50:50 joint venture (JV) agreement with China-based Chongqing Holley Holding Company.According to a release issued by Ipca to the BSE today, the JV company will be engaged in marketing Artemisinin-based active pharmaceutical ingredients and formulations, mainly to international institutions, NGOs, government and semi-government bodies across the world."The bulk drugs and formulations required by the JV company will be manufactured by Ipca at its facilities in Ratlam and Silvassa, which have been approved by World Health Organisation (WHO). The Artemisinin requirement of the JV company will be met by the Holley Group. The company will be set-up at SAIF-ZONE, Sharjah, UAE," the release added."Artemisinin-based combination therapy has been recommended by WHO for the treatment of P. falciparum malaria. Artemisinin is derived from a natural plant Artemisia Annua, mainly grown in China and Vietnam. Holley Group is the largest manufacturer of Artemisinin in the world," the release said.
