Local firm Silver Shine International (SSI) plans to produce
pharmaceutical drugs in partnership with US-based Alvogen Company, the
SSI managing director says.
SSI will also import raw materials from the American company, according to Managing Director Pe Hlaing.
Both sides inked a memorandum of understanding on the joint venture
business at the Sedona Hotel in Yangon on December 11. Operations will
start earlier next year.
“This is the first joint venture between a local company and a foreign
firm for producing [prescription drugs]. Foreign companies are allowed
to engage in that business under the new government,” Pe Hlaing said.
“Local manufacturers still import pharmaceutical drugs. Under the
cooperation, foreign technicians will come here to give lectures,” he
added. Prescription medicines are mostly imported from India, China and
Thailand.
Alvogen is one of the top 20 drug manufacturers in the world and has at least 20 branch offices around the world.
Source: Eleven Weekly
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