Biotech JV sets up in Dubai

Indian biotech firm, Biocon Ltd, and Abu Dhabi-based pharma manufacturer, Neopharma, have set up NeoBiocon, a joint venture to be based at the Dubai Biotechnology and Research Park (DuBiotech).

The aim of NeoBiocon is to offer affordable biopharmaceutical products in areas such as oncology, diabetes, auto-immune disorders, cardiology and anti-obesity.

"NeoBiocon is a pioneering joint venture with Neopharma... Our long term vision is to ensure that the region is self-sufficient in terms of biopharmaceutical products," said Kiran Mazumdar-Shaw, managing director, Biocon.

The company, established in 1978, developed the recombinant human insulin, INSUGEN, and India's first indigenously produced monoclonal antibody, BIOMAb-EGFR.

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