29 April, 2005 : Ipca enters into Joint Venture with Holley Group of China

Ipca Laboratories has entered into a Joint Venture agreement with Chongqing Holley Holding Co. Ltd. of China. The paid-up share capital of the Joint Venture Company will be held equally by Ipca and Changing Holley Holding Co. Ltd.

The Joint Venture Company will engage itself in marketing Artemisinin based Active Pharmaceutical Ingredients and its Formulations mainly to International Institutions, NGOs, Government and Semi-Government bodies across the globe. The Bulk Drugs and Formulations required by the Joint Venture Company will be manufactured by Ipca from its facilities at Ratlam and Silvassa approved by World Health Organization (WHO). The Artemisinin requirement of the Joint Venture Company will be met by Holley Group. The Joint Venture Company will be set-up at SAIF-ZONE, Sharjah, UAE.

Artemisinin based combination therapy has been recommended by WHO for the treatment of P. Falciparum Malaria. Artemisinin is derived from a natural plant Artemisia Annua mainly grown in China and Vietnam. Holley Group of China is the largest manufacturer of Artemisinin in the world.

Ipca Laboratories is a Mumbai based fast growing fully integrated pharmaceutical company, leader in anti-malarial drugs in India, producing and exporting wide range of Anti Malarial compounds like Chloroquine, Amodiaquine, Primaquine, Artemether, Arteether and Artesunate and their formulations. Ipca has strong thrust on exports. It exports to over 100 countries which account for nearly 60% of its turnover. Its manufacturing facilities have been approved by regulatory authorities all over the world.