Omnicare Drugs India Pvt Ltd, a 100 per cent subsidiary of the UAE’s largest pharmaceutical manufacturer Neopharma LLC, and ASKA Pharmaceuticals Co, a top pharma brand in Japan, will jointly set up a manufacturing facility in Visakhapatnam.
The two companies on Thursday announced entering into an agreement to establish a joint venture (JV) in India for the purpose of manufacturing and marketing of pharmaceuticals to global market.
The focus of this state-of-the-art facility, which will come up by 2020 at the cost of Rs 350 crore, will be to manufacture oral solid dosage forms, oral liquids and topical preparations. It will have a peak capacity to manufacture 3 billion tablets a year, said a statement.Neopharma and ASKA Pharma will be taking accreditation from all the major global health regulatory bodies.The manufacturing plant under this JV agreement will be based at JN Pharma City in Andhra Pradesh’s Visakhapatnam. The project will go on floor next month while the operations are likely to start by 2020.
The focus 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.
“The partnership will enable us to transfer skills and knowledge locally,” said B.R. Shetty, Neopharma Founder and Chairman.
N. Suresh Kumar, Neopharma COO, said: “We are entering into a strategic relationship with ASKA Pharmaceuticals to accelerate growth in regulated markets of the US and the European Union and in the emerging markets Africa and Asia.”
Source: Business Standard
UAE based pharmaceutical company, Neopharma obtained its GMP Certification by the National Authority of Medicines and Health Products (Infarmed), Portugal. The certification was granted following an inspection of its Abu Dhabi facility in January 2018, in line with the EU – GMP directives.
The manufacturing plant was found to be GMP Compliant as per the guidelines laid down by the Directive 2003/94/EC. The EU – GMP Certification was accorded to both manufacturing areas within Neopharma (General Products, Beta Lactams).
The approval, which is valid in the entire European Union along with other PICS markets, will facilitate Neopharma’s entry into European markets along with increasing opportunities in contract manufacturing business. Neopharma currently manufactures general products and Beta – Lactams in capsules (hard shelled), tablets and liquid formulations for internal use.
The EU GMP approval comes in line with Neopharma’s commitment towards providing cost effective, high quality pharmaceutical products. In addition to the EU – GMP, the manufacturing facility at Neopharma is also compliant as per UAE MOH GMP guidelines, and ISO certifications including ISO 9001, ISO 14001 and ISO 180001.
UAE based, global pharmaceutical company, Neopharma won the award of ‘Distinguished Pharmaceutical Company’ at the Health Magazine Awards 2018. The annual event, organized by Dubai Health Authority and the HEALTH magazine, aims to acknowledge and appreciate exceptional accomplishments in the field of healthcare. the region’s biggest and most comprehensive annual awards for the healthcare sector brought together more than a thousand healthcare leaders and professionals from the UAE’s private and public sectors.
Winners of the second edition of the Annual Health Awards were awarded at a star-studded gala event at the Grand Hyatt Dubai. Facing stiff competition from the various other big pharmaceutical companies in the region, Neopharma was able to bag the prestigious award due to its many accomplishments over the years. 2017 has been a good year for the Abu Dhabi headquartered organisation. The joint venture with the Japanese SBI Pharmaceuticals brought with itself an innovator molecule which is the latest weapon in the fight against diabetes. Neopharma had also established through various strategic deals, manufacturing facilities around the world, including Japan, Brazil and India.