Shilpa Medicare Expands Footprint with New Saudi JV

announced the formation of a joint venture in Saudi Arabia with Pharma Pharmaceutical Industries & Biological Products (PPI), marking a strategic step into the MENA region. The JV will be set up through Shilpa’s UAE subsidiary, Koanna International FZ LLC, which will hold a 30% stake, while PPI will retain the majority 70%. The collaboration will be executed in two phases initially, Shilpa will supply bulk finished formulations for repackaging in Saudi Arabia, followed by a technology transfer enabling full-scale local manufacturing. Shilpa will also manage regulatory submissions with the Saudi Food and Drug Authority. This move not only supports Saudi Arabia’s Vision 2030 to boost domestic manufacturing but also strengthens Shilpa’s regional presence by combining its technological expertise with PPI’s local market leadership. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.