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Bangalore, July 30 Biocon Ltd and Abu Dhabi-based Neopharma have announced the setting up of their 50:50 Dubai venture, Neobiocon, seven months after signing an MoU.

The company located at the Dubai Biotechnology and Research Park (Dubiotech) will start with marketing and later manufacturing of affordable life-saving and lifestyle drugs to the UAE and the other five GCC countries, a release said.

Ms Kiran Mazumdar-Shaw, CMD, Biocon, said Neobiocon will “provide Biocon’s proprietary biotech and related biopharmaceutical pipeline products to the region.”

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