Neopharma Expands Into Biotechnology and Nanotechnology-Based Research and Development
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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