Teva Pharmaceutical will enter India through a joint pharma partners venture with US-based Proctor & Gamble and set up its first manufacturing facility at Sanand in Gujarat with an initial investment of Rs 250 crore.
“TPI and P&G joint venture, P&G Teva, would set up an over-the-counter (OTC) drug manufacturing facility at Sanand with an initial investment of Rs 250 crore,” Gujarat Food and Drug Control Administration Commissioner H G Koshia said.
A joint delegation of P&G Teva recently visited Gujarat and evinced interest in setting up a manufacturing facility in Gujarat.
The proposed facility at Sanand would have state-of-the-art equipment and adhere to good manufacturing practices norms to make products both for Indian and overseas market, Koshia said.
A lot of global companies have evinced interest in setting up their facilities in Gujarat, an established hub for pharmaceutical companies, especially SMEs.
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