Laurus Labs and Krka target new markets with Hyderabad JV

Drug manufacturer Laurus Labs and Slovenia-based generic pharmaceutical firm Krka are joining forces to establish a collaborative venture in Hyderabad, aimed at producing finished pharmaceutical products for new markets, including India.

In this joint venture, Krka will hold a majority stake of 51%, while Laurus will have a 49% stake. The registered capital for the joint venture is set at 50 million euros, with all necessary procedures and documentation for company registration anticipated to be completed by March 2024.

The primary focus of the JV company will be to formulate a strategic entry plan into the Indian market and other markets outside the European Union where neither party currently operates in the finished products segment. This collaboration is expected to broaden the product portfolio and market reach for both companies.

The complementary nature of Krka and Laurus' businesses is expected to yield synergistic effects for both entities. The joint venture aims to capitalize on these synergies to explore new opportunities, enter untapped markets, and solidify their positions as suppliers of pharmaceutical products on the global stage.

News by Rahul Yelligetti