Neopharma, ASKA Pharma Form JV for Drug-Product Mfg Facility in IndiaBy
Omnicare Drugs India Pvt Ltd, a subsidiary of Neopharma, a pharmaceutical company headquartered in Abu Dhabi, United Arab Emirates, and ASKA Pharmaceuticals, a Tokyo-Japan headquartered company, have agreed to form a joint venture for establishing a drug-product manufacturing facility in Visakhapatnam, Andhra Pradesh, India.
The Rs 350 crore ($53-million) facility will manufacture oral solid-dosage forms, oral liquids, and topical preparations and will be based at JN Pharma City in Visakhapatnam. The facility, which will have a peak capacity to manufacture 3 billion tablets a year, is expected to start operations by 2020, according to information from Neopharma. Neopharma and ASKA Pharma say that they will be seeking accreditation from major global health regulatory bodies for the facility.
The facility will manufacture products targeting chronic diseases in treating cardiovascular diseases, central nervous system disorders, and diabetes. The drugs will be targeting Japan and other world markets.