Indian consumer goods company Dabur recently signed a Memorandum of Understanding (MoU) with Iran’s Sobhan Pharmacy Company for the establishment of an anti-cancer drug manufacturing facility in the Islamic Republic. Sobhan will start importing raw materials for its formulations from Dabur India once the plant goes on stream in 2005, reported IRNA.
The eight-year agreement commissions Dabur to supply Sobhan with equipment, technology and consultancy services. The Indian firm plans to develop both bulk drug and formulations at its Iranian facility. A detailed contract is to be signed in the near future, stated Dabur General Manager Ajay Vij.
Since November 2000, international pharmaceutical companies may enter the Iranian market, as long as they operate in accordance with the local laws. Although Iran had been working with foreign pharmaceutical companies for some time, new regulations permitting joint ventures with foreign companies have not yet been formulated. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
