Granules picks up 50% stake in Chinese JV
The Hyderabad-based Granules India, engaged in manufacturing pharmaceutical formulation intermediaries (PFIs), has signed a memorandum of understanding (MoU) with China-based Hubei Biocause Heilen Pharmaceutical Company for acquiring 50 per cent stake in a joint venture entity.
The JV company, to be known as Granules Biocause, will manufacture and sell active pharmaceutical ingredients (APIs) starting with Ibuprofen.Granules Managing Director C Krishna Prasad told mediapersons on Thursday that the all-cash deal would be completed within three months.
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