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October 26, 2018

Vishakhapatnam, Andhra Pradesh: The Foundation Stone Laying Ceremony of NeoASKA (joint venture between Neopharma and ASKA Pharmaceuticals Co. Ltd.) manufacturing facility was held at Jawaharlal Nehru Pharma City, Visakhapatnam on 25th October 2018. Dr. B. R. Shetty, Founder and Chairman, Neopharma along with Mr. Takashi Yamaguchi, President and Representative Director, ASKA Pharmaceuticals, Japan laid the foundation stone. Mr. Suresh Kumar Nandiraju, Chief Operating Officer, Neopharma along with the senior management team of Neopharma were also present at the occasion.

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 and is expected to receive accreditations from major global drug regulatory agencies.

The facility will manufacture drugs for chronic therapies in cardiovascular diseases, the central nervous system and diabetes, along with other products from key therapeutic classes targeting Japan and the world market. Both the companies intend to expand their pharmaceutical business and contribute to the health of people through this global manufacturing site where cost-effective and high-quality pharmaceuticals will be manufactured.

About Neopharma: Neopharma, one of the largest pharmaceutical companies in MENA region. A vertically integrated business, economies of scale and an extremely skilled team enable us to deliver quality products in a timely manner at affordable prices in over 50 countries worldwide. Neopharma's global presence is supported by 5 manufacturing facilities spread across 3 continents delivering a wide range of branded and generic formulations, and active pharmaceutical ingredients (APIs). The therapeutic segments covered by our portfolio of over 100 high-quality molecules include anti-infectives, neurology, cardiology, orthopedics, diabetology, gastroenterology, urology, dermatology, gynecology, respiratory, dental and nutritionals.

About ASKA Pharmaceuticals Co. Ltd: ASKA Pharmaceutical Co., Ltd. engages in the manufacture, sale, and import/export of pharmaceuticals, veterinary medicines, quasi-drugs, foods, and medical devices. It offers Altat for the treatment of peptic ulcer and gastritis; Prostal drugs for the treatment of prostatic hypertrophy and cancer; Lipidil for the treatment of hyperlipidemia; Thyradin, a drug for the treatment of thyroid disease; Ange, an oral contraceptive agent; and Menoaid Comb patch, a climacteric syndrome treatment. The company is also developing L-105, a non-absorbable rifamycin antibiotic; AKP-501, a fertility treatment with follicle stimulating hormone preparation of recombinant DNA as an active agent; and CDB-2914, a progesterone receptor modulator. ASKA Pharmaceutical Co., Ltd. was founded in 1920 and is headquartered in Tokyo, Japan.