Shilpa Medicare to Form Joint Venture with Pharma Pharmaceutical Industries & Biological Products in Saudi Arabia

Shilpa Medicare Ltd, through its wholly owned subsidiary Koanna International FZ LLC, has entered into a definitive agreement with Pharma Pharmaceutical Industries & Biological Products (PPI), a prominent Saudi enterprise, to form a new joint venture company in the Kingdom of Saudi Arabia. The joint venture aims to build a new pharma manufacturing facility in Saudi Arabia, with Shilpa supplying finished formulations in bulk form in Phase 1 and creating a local manufacturing facility in Saudi Arabia in Phase 2. The joint venture is expected to strengthen Shilpa’s global footprint and consolidate its presence in the MENA region.