7chemicals, an Ahmedabad-based exporter of pharmaceutical raw material, finished formulations and chemicals, has entered into a joint venture agreement with Aeromed of Azerbaijan to supply oncology, cardiovascular and gastroenterological drugs.

According to Rakesh, director, 7chemicals, the MoU was signed two weeks ago. The order is worth 2 million USD per annum. The products will be contract manufactured in India by 7chemicals. Aeromed, a 25-million US$ pharmaceutical manufacturer located at Packu in Azerbaijan, will package and supply the drugs in Azerbaijan and nearby CIS countries.

Recently, 7chemicals had entered into a pact with the Ministry of Health of the South African Government to run a medium sized EC certified pharmaceutical company in Botswana and to set up a 200 bedded super speciality hospital in South Africa. 7chemicals also had bagged contract-manufacturing deals worth over Rs 9 crore from Russia, Yemen and Croatia. The company has significant presence in Russia and other CIS countries, Philippines and Latin America, including six joint ventures for drug supply.

Rakesh said the company has marketing offices in Moscow, Georgia, Azerbaijan, Armenia, Chile, Philippines and South Africa and exports products to about 45 countries. 7 Chemicals is into manufacturing a wide range of APIs and formulations like artemisinin albendazole, amlodpine besylate, ampicillin, azithromycin, alprazolam, cephalaosporins, as well as statins and enzymes, anti-diabetics, anti-cancer, anti-asthmatics, steroids etc. The company has been working with Indian counterparts like Aarti Drugs, Unichem, Saraca, Synthokem, Lincoln Pharma, Granulels India, Krebs, Ind-swift, Kairav and many others. With warehouses in Frankfurt, Germany and Moscow, 7 Chemicals, the company is into contract-manufacturing business for the last 3-4 years.