Shilpa Medicare has taken a significant step toward expanding its global footprint with a new joint venture in Saudi Arabia. The pharmaceutical powerhouse has partnered with Pharmaceutical Industries & Biological Products (PPI), a leading Saudi company, through its wholly-owned subsidiary, Koanna International FZ LLC UAE. Under the agreement, PPI will hold a 70% stake in the venture, while Koanna will own the remaining 30%.
The collaboration is designed to combine the strengths of both companies. PPI brings deep local market knowledge, while Shilpa Group contributes its expertise in research and development, manufacturing, and regulatory compliance. This partnership aligns closely with Saudi Arabia’s Vision 2030 initiative, which aims to diversify the economy and boost local production in strategic sectors, including healthcare.
The joint venture will be rolled out in two phases. Initially, Shilpa Group will supply finished products in bulk for repackaging at the new facility, ensuring a swift market entry. At the same time, PPI will oversee the establishment of a state-of-the-art manufacturing plant, benefiting from Shilpa’s technical guidance.
In the second phase, Shilpa Group will transfer its full manufacturing technology to the joint venture, enabling local production of finished products. The Shilpa team will also prepare the complete regulatory registration dossier for the Saudi Food and Drug Authority (SFDA) and guide the process for obtaining the necessary market approvals. Meanwhile, PPI will handle the infrastructure and packaging equipment to ensure international standards are met.
This joint venture marks a strategic move for Shilpa Medicare, reinforcing its global presence while supporting the growth of Saudi Arabia’s healthcare sector. The collaboration promises to bring high-quality pharmaceutical products to the local market and strengthen the Kingdom’s healthcare infrastructure in line with its long-term development goals.
