Cipla signed deals to set up first biosimilars units in South Africa
Posted on:19 Oct 2016 09:32:11
19 October 2016 Current Affairs GK: Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa's first biosimilars manufacturing facility to be set up at a cost of nearly $91 million.
The agreement with KwaZulu-Natal Dube Trade Port Special Economic Zone for Cipla BIOTEC's new facility was concluded on the margins of BRICS Summit in Goa .
The Memorandum of Agreement was signed at a meeting held at Cipla's offices in Goa which was attended by South Africa's Minister of Trade and Industry Rob Davies; KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala; and Divian Govender, South Africa CEO and Global Chief Business Officer of Cipla BIOTEC.
The facility will be South Africa's first biotech manufacturing unit for the production of biosimilars. It is set to produce a range of affordable treatments for cancer and other autoimmune diseases for the African and global market.
The CIPLA Biologic investment is a Top 10 priority project of the Inter-Ministerial Committee (IMC) on Investment chaired by President Jacob Zuma and is strategic for a number of reasons .
The investment represents the introduction of an entirely new technology into the South African economy, which will have a wide reaching impact especially the elevation of the research and development done in our tertiary education institutions .
The construction of the new facility is scheduled to start early next year, with full operations expected to commence in the third quarter of 2018.
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