Dr B R Shetty’s Research Centre of Abu Dhabi based pharmaceutical producer Neopharma has entered into a joint venture agreement with Indian biotechnology company Biocon. Through this joint venture, the two companies will leverage on each others strengths to manufacture and market biopharmaceutical products for the GCC region.
It will bring out life saving drugs in the field of oncology, diabetes, auto-immune disorders and cardiology. The product mix will also include anti-obesity drugs and new generation immunosuppressant drugs.
This landmark agreement between the two companies heralds the region’s first facility to develop life saving biotech and biopharmaceutical products.
Speaking on the occasion, Dr. B R Shetty said that Neopharma’s foray into Biotech will influence a fresh wave of new manufacturing technology.
In her first ever business trip to the UAE, Kiran Mazumdar-Shaw, Chairman and Managing Director of Biocon said that she was impressed by the benevolence of rulers and the royal family in developing the country to gain global leadership in such a short span of time.
She remarked, “I firmly believe that Biocon, through its partnership with Dr. B R Shetty’s Research Centre of Neopharma, will contribute to the growth and development of this country in the field of Biotechnology.”
Biocon is India’s leading biotechnology enterprise. Over the past 28 years, they have evolved from an enzyme manufacturing company to a fully integrated biopharmaceutical enterprise, focused on healthcare. They apply their proprietary fermentation technologies to develop innovative and effective biomolecules in diabetology, oncology, cardiology and other therapeutic segments.
In the UAE market, Neopharma continues with its winning streak and commands leadership position for new products. With a wide range of products in leading therapy segments such as antibiotics and pain killers, the company is now further strengthening its organic business by entering the coveted field of biotechnology.