Neopharma Expands Into Biotechnology and Nanotechnology-Based Research and Development
Neopharma has ventured into biotechnology and nanotechnology-based research and manufacturing capabilities. The announcement preceded a ground breaking ceremony held under the patronage and in the presence of His Highness Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister for Higher education and Scientific Research, and Chairman of Neopharma.
His Excellency Abdullah Humaid Al Mazroei, Vice-Chairman, and Dr. B R Shetty, Managing Director and CEO, Neopharma, said the AED250 million facilities will manufacture nutraceuticals, injectable preparations, topical applications, ophthalmic products and aerosols. Manufacturing lines are concurrently being set up for a group of antibiotic drugs called 'cephalosporins', with separate areas allocated for both oral and injectable variations.
Dr.B. R. Shettysaid: "Neopharma is aggressively pressing ahead with its organic growth initiatives. The immense support of Bank of Baroda, the lead financing partner, is a significant stimulus that complements our efforts.
"The new facilities will mark our foray into high-technology based research and development (R&D). In the long-term, our initiatives will contribute to creating suitable opportunities for students in the country and help create a professional talent pool."
Neopharma's facilities that are expected to begin operations within 14 months will be designed on the guidelines recommended by US FDA.
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