Shilpa Medicare Expands with Saudi Arabia Joint Venture

Shilpa Medicare Limited has finalized a definitive agreement with Pharmaceutical Industries & Biological Products (PPI), a leading enterprise in Saudi Arabia, through its subsidiary Koanna International FZ LLC (Koanna), a wholly owned subsidiary in the UAE, for a joint venture in the Kingdom of Saudi Arabia. 

This collaboration is a huge step in the global expansion strategy for Shilpa and is a strong commitment to enhancing pharmaceutical manufacturing in the Middle East. The plans for the joint venture are to build a modern pharmaceutical manufacturing site in Saudi Arabia with the goal of meeting the growing demand for high-quality medicines in the region. 

The joint venture will be initiated in phases, but initially, Koanna will supply finished formulations (and may have other products) in bulk, to the Saudi market. Particularly, Shilpa will further the collaborations to transfer local formulation manufacturing technology to the joint venture partner in the second phase, thus embarking on local production to enhance the overall local pharma sector agency and degree of self-reliance.

Also Read: Why Global Pharma Expects CDMOs to Be Ready for Joint Inspections

In line with the agreement, the Shilpa Group will take the lead on the entire regulatory registration dossier and by using the Saudi Food and Drug Authority (SFDA) standards, will facilitate the market authorization process to enable the patients in the region to access the Shilpa Group's products expeditiously.

Through this partnership Shilpa Medicare expands its footprint in the region and reflects the commitment to support the Saudi Arabia Vision 2030 emphasis on local pharmaceutical manufacturing and healthcare innovation, by combining Shilpa's expertise in complex formulations and PPI's strong local capability and presence, the new joint venture can fundamentally change the pharmaceutical landscape regionally.