Dishman Pharmaceuticals announces Second Joint Venture in Saudi Arabia

Dishman Pharmaceuticals & Chemicals Ltd has announced the second joint venture in Saudi Arabia with Takamul Investments Holding Company (Takamul), a group company of Capital Advisory Group, to manufacture Hospital Disinfectant formulations Anti-cancer Drug formulations and Dry Powder inhaler (DPI). Takamul will discuss with Saudi Arabian formulation companies to join this JV arrangement, so that the JV can utilize the marketing and supply chain of such pharma companies. As per the report given by the Capital Advisory Group, Saudi Arabian inhaler market is in excess of 250 million dollars and other GCC nations have similar market aggregating to half million dollars. The technology for the disinfectant and DPI will be provided by the Company and technology for anticancer formulations will be provided by Carbogen-Amcis AG, Switzerland, a step-down subsidiary of the Company. Takamul Board has already approved the JV proposal and the Company will seek approval from its Board in the next Board Meeting.

Source : Equity Bulls

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