Satyanarayana Chava, Founder & CEO, Laurus Labs Limited
| Photo Credit: PAUL NORONHA
Drugmaker Laurus Labs and Slovenia’s generic pharmaceutical agency Krka have determined to set up a three way partnership firm in Hyderabad to produce completed merchandise for brand new markets, together with India.
Krka will maintain a 51% stake and Laurus 49% in the JV, whose registered capital shall be Indian rupees equal of fifty million euros. Necessary procedures and documentation for registration of the corporate shall be finalised by March 2024, Laurus mentioned on Thursday in a launch asserting an settlement with Krka.
Krka and Laurus have been working collectively contractually for a few years and their companies complement one another. The JV firm will “develop a plan to enter the Indian market and other markets outside the European Union where neither party is currently present with its finished products,” it mentioned.
“Our business relationship with Krka is very matured and growing… the JV will further cement our relationship to enhance product portfolio and markets, Laurus Labs CEO Satyanarayana Chava said.
“We believe the joint [venture] company will have synergistic effects for both companies and would enable them to explore all opportunities, enter new markets and remain among leading suppliers of pharmaceutical products on the international market,” Krka CEO Joze Colaric mentioned.
