To promote its generic products in China, Alembic Pharma of India announced a China joint venture with China’s SPH SINE Pharma and Adia (Shanghai) Pharma. SPH Sine will hold 51% of the JV, Alembic 44% and Adia 5%. The JV will be funded with $150 million in equity, contributed by the three partners proportionately. The partners expect the JV to eventually establish a manufacturing facility in China. Until then, Alembic will supply the JV with products from its India manufacturing plants.
Source: China Biotoday
