Biocon, Neopharma form JV to tap GCC markets

Biocon today said that the company has formed a joint venture with Abu Dhabi-based pharmaceutical company Neopharma to manufacture and market a range of bio-pharmaceutical products for the GCC countries (Gulf Cooperation Council).

According to a release issued by Biocon to the BSE today, the is Biocon's maiden foray to develop and market life saving biopharmaceutical products in this region.

Kiran Mazumdar-Shaw, CMD of Biocon said, "The GCC region is an important market for Biocon and the JV with Neopharma is an important milestone for Biocon's global foray. Neopharma has established a world class manufacturing facility for finished formulations which was inaugurated by President APJ Abdul Kalam in 2003".