The Hindu Business Line : Biocon forms venture with Neopharma of UAE

The step marks Biocon's foray into the rich GCC (Gulf cooperation Council) market of six Arab States - UAE, Bahrain, Kuwait, Saudi Arabia, Oman and Qatar.

The new entity to be incorporated in Abu Dhabi will initially take at least 10 of Biocon's life-saving drug products to these countries. "We would like to be in that market soon, probably by the next fiscal (April 2007)," Ms Kiran Mazumdar Shaw, CMD of the Bangalore-based biotech major, told Business Line, but did not divulge the investment details.

The range will include Biocon's generic and novel therapeutics to treat cancer, diabetes, auto-immune and cardiovascular diseases, immunosuppressants.

The second phase will see manufacturing activity also. Biocon's insulin is already in the West Asian market but through a licensing arrangement. "We want to take more of our products there and also change that model" and be involved directly in marketing operations, she said. As per an MoU they signed on Thursday, the new company will have a dedicated sales force trained by Biocon and operating directly under Biocon's control, she said.

Dr Shetty is recognised for his role in healthcare in the UAE through a chain of hospitals, pharmacy chains and an integrated pharmaceutical distribution network. The tie-up would give Biocon a foothold in a new and promising region, while enlarging Neopharma's range into biotechnology. A Biocon release quoting Dr B.R. Shetty, Chairman and CEO of The Neopharma Group, said, "Neopharma's foray into biotechnology will catalyse a wave of biotechnology initiatives in the region."

"The GCC region is an important market for Biocon and the joint venture with Neopharma is an important milestone for Biocon's global foray," the company said quoting Ms Mazumdar-Shaw.

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