April 26, 2018:, Hyderabad: Omnicare Drugs India Private Limited, a 100% subsidiary of the UAE’s largest pharmaceutical manufacturer – Neopharma LLC and ASKA Pharmaceuticals Co., Ltd, Tokyo; a top pharma brand from Japan entered into an agreement to establish a joint venture (JV) in India for the purpose of manufacturing and marketing of pharmaceuticals to a large global market bringing investment, generating employment and foreign exchange to the state.
The focus of this state of art facility, which shall come up by 2020 at the cost of Rs. 350 Cr, will be to manufacture oral solid dosage forms, Oral liquids and Topical preparations and would have a peak capacity to manufacture 3 billion tablets a year.
Neopharma and ASKA Pharma will be taking accreditation from all the major global health regulatory bodies. Both the companies intend to expand their pharmaceutical business and contribute to the health of people through this global manufacturing site where cost effective and high-quality pharmaceuticals will be manufactured.
Over the last few years Neopharma has made several major investment announcements that has positioned the company to be a truly global player.
The manufacturing plant under this JV agreement between Neopharma and ASKA Pharmaceuticals will be based at JN Pharma City, Vizag, Andhra Pradesh, India. The project will go on floor in May’18 while the operations are likely to start by 2020. The focus at this state of art facility will be to manufacture products targeting chronic therapies in cardiovascular diseases, Central Nervous System and Diabetes along with other drugs from key therapeutic classes targeting Japan and world market.
Dr. B.R. Shetty, Founder and Chairman Neopharma , remarked “We are delighted to have signed this collaboration with Japanese pharmaceutical company ASKA. It’s a further affirmation to our commitment to the National Agenda of “Make in India” with the manufacturing of safe, efficacious and cost effective medicines of consistent quality confirming to international standards. The partnership will enable us to transfer skills and knowledge locally.
Suresh Kumar, the COO and an expansion strategist, Neopharma states “We are entering into a strategic relationship with ASKA Pharmaceuticals to accelerate growth in regulated markets of US and European Union and in the emerging markets Africa and Asia. The joint venture will be highly complementary as it will further strengthen Neopharma’s presence in tough markets like India and Japan which are among the world’s largest pharma markets and at the same time provide cost effective and high quality generic solutions.
About Neopharma
A corporation established in U.A.E. in 2003 to manufacture and market pharmaceuticals. Presently Neopharma is one of the largest pharmaceutical company in the MENA region with presence in over 50 countries. Neopharma is currently working in close collaboration with several internationally renowned pharmaceutical companies. Neopharma focuses on addressing the unmet medical needs and debilitating diseases and manufacture world class pharmaceutical products at affordable prices. Please visit its website; https://neopharma.com
About Omnicare Drugs India Private Limited :
ODIPL was established in April 2017 at Hyderabad, India as a subsidiary of Neopharma. Core objectives of the company includes development, manufacturing and marketing of pharmaceuticals in India and other global markets.
About ASKA pharmaceuticals :
Since its foundation in 1920, ASKA has been focusing on and applying managerial resources over three fields, internal medicine, obstetrics and gynecology, and urology under the business philosophy “Contributing toward the improvement of people’s health and progress in medicine through the development of innovative products”. ASKA has been actively advancing the development of innovative products to satisfy medical needs. Please visit its website https://www.aska-pharma.co.jp.
Source: PR
