Granules India inks MoU with Chinese firm

Granules India has inked a memorandum of understanding (MoU) with China-based Hubei Biocause Heilen Pharmaceutical Company (Biocause) for acquiring 50% stake in a joint venture entity.

According to a release issued by Granules India to the BSE today, the JV company will manufacture and sell active phrmaceutical ingredients (APIs) starting with Ibuprofen.

"Biocause is one of the biggest Ibuprofen manufacturers and exporters in the world. Under the agreement, the Ibuprofen manufacturing assets of Biocause, located in Jingmen, will be transferred to the JV," the release added.

Krishna Prasad, managing director of Granules, said: "Biocause's facility is one of the most sophisticated manufacturing sites that we have come across in China. Their high levels of GMP compliance, in addition to their capability to manufacture Ibuprofen for Europe and the United States, will provide us a strong manufacturing base in China for high volume APIs. This move is in line with our overall strategy of offering end-to-end solutions to companies on OTC products."