Granules India Joint Venture in China receives approval

With reference to the earlier announcement dated October 12, 2006 regarding "Granules India Signs MoU with Biocause of China", Granules India Ltd has announced that the Agreement entered between the Company and Hubei Biocause Heilen Pharmaceutical Company Ltd, China for setting up of a Joint Venture Company in China has been approved by the Government of China.

The Joint Venture Company in the name of Hubei Granules Biocause Pharmaceutical Co. Ltd, has been registered and will now become operational. The JV Company will manufacture Ibuprofen API presently.

Source : Equity Bulls

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