Drug maker Granules India Ltd. said on Thursday it had signed an initial deal with China's Hubei Biocause Heilen Pharmaceutical Co. for an equal joint venture.

The joint venture, to be called Granules Biocause Ltd., will make and market ibuprofen, a non-steroidal, anti-inflammatory drug.

Under the deal, an ibuprofen-making facility in China would be transferred to Granules Biocause Ltd..

The plant at full capacity would contribute more than 1 billion rupees a year to Granules India's revenue.

The plant with 45 percent capacity utilization was expected to reach maximum capacity usage in a year and a half.

Source:佚名