Granules India Ltd will set up a joint venture company
with Hubei Biocause Heilen Pharmaceutical Company of China
to manufacture and sell APIs (active pharmaceutical ingredients),
the Hyderabad-based company said in a filing with the
Bombay Stock Exchange (BSE).
Biocause is one of the biggest manufacturers and exporters
India said has entered into a memorandum of understanding
(MoU) with the Chinese company, under which the manufacturing
assets of Biocause, located at Jingmen (Hubei province
of China) and currently manufacturing Ibuprofen, would
be transferred to the joint venture entity.
the firms would hold a 50-per cent stake each in the joint
India would be responsible for the development and marketing
of products manufactured by the joint venture entity,
starting with Ibuprofen, the company said in its filing.
Biocause 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 US will provide
us a strong manufacturing base in China for high volume
APIs," said Krishna Prasad, managing director of