Elder Pharma plans JV in Ghana
Betting big on the African market, Elder Pharmaceuticals is planning to set up a joint venture company in Ghana and expects to have footprints in about ten countries of the continent in the next six months.
By PTI |
NEW DELHI: Betting big on the African market, Elder Pharmaceuticals is planning to set up a joint venture company in Ghana and expects to have footprints in about ten countries of the continent in the next six months.
"Currently a due diligence process is going on for setting up a joint venture company with a new organisation in Ghana," Elder Pharmaceuticals Director International Division Alok Saxena told media from Mumbai.
He said the joint venture would initially start with manufacture of liquid formulations and later get into solid dosage formulations of all types.
Saxena, however, declined to comment on details of the joint venture's structure and the partner citing "confidentiality clause".
"In another two to three months' time we should be able to go ahead with the joint venture," he said, adding the local partner has a manufacturing unit in Ghana.
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Commenting on the company's plans for the African market, Saxena said, "It is a big market with a size of over $2-2.5 million and we would like to have a significant presence there."The company would sell all its branded products and OTC drugs in the African countries where it is present, he added.
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