Biocon, Neopharma float JV in Dubai

Biocon, a Bangalore-based biotech major, has established Neobiocon - a joint venture company in Dubai with Neopharma.

The company signed a memorandum of understanding with Neopharma to set up a new joint venture company to explore the Gulf market. The new company is to be based in Dubai's biotechnology and research park (Dubiotech).

According to Kiran Mazumdar-Shaw, CMD, Biocon: "The new venture expands Biocon's global network to provide affordable bio-therapeutics for unmet medical needs. On the anvil are specialty bio-pharmaceutical products for life threatening diseases."