Indian firms looking for Brazilian partners
Backed by a $10 million line of credit from the Indian Eximbank,representatives from 20 of India's pharmaceutical companies are traveling to Brazil looking for partners to produce generic drugs, according to a report in Valor Economico. Indian drugmakers currently export generic drugs to Brazil which have a value of $200 million annually, it was noted.
Chinese trip to Brazil planned
Joint ventures between Indian and Brazilian companies is not a new concept in drugmaking circles, the newspaper reports, noting that Ranbaxy Laboratories has a 55% stake in the Brazilian concern Ranbaxy-SP Medicamentos. The Indian trip to Brazil was scheduled to take place at the end of July and a delegation from Chinese pharmaceutical companies is expected to follow shortly thereafter.
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