Omnicare Drugs India Pvt. Ltd, a wholly owned subsidiary of UAE’s Neopharma LLC, and ASKA Pharmaceuticals Co. Ltd. of Tokyo have entered into an agreement to set up a ₹350-crore pharmaceutical manufacturing joint venture in Visakhapatnam. The focus of the facility proposed to be establish by 2020 will be to manufacture oral solid dosage forms, oral liquids and topical preparations. It would have a capacity of 3 billion tablets. The plant will be based at J.N. Pharma City and work would begin next month. Stating this, a release said the focus would 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.
Neopharma COO N. Suresh Kumar said the strategic relationship with ASKA Pharmaceuticals is to accelerate growth in regulated markets of the US and European Union and in the emerging markets of Africa and Asia.
The JV will be highly complementary and 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.
