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July 30th, 2007
Biocon to set up joint venture in Dubai
Biocon Ltd, India's leading biotechnology firm, has entered into an agreement with Neopharma, a leading Abu Dhabi-based pharma company owned by an Indian, to set up a joint venture (JV) in Dubai's biotech and research park - Dubaitech.
The new venture, christened Neobiocon, will manufacture and market bio-therapeutics in the Gulf region and fulfil the vision of the UAE's former president, late Sheikh Zayed Al Nahyan, to provide 'health for all' at affordable price, according to a company statement here Monday.
Neopharma plans to foray into European markets and work on nanotechnology-based products. Its facility is recognised as a regional contract manufacturing hub for European and Canadian firms.
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