Dishman Pharmaceuticals and Chemicals Ltd (DPCL), a Rs 150-crore plus Ahmedabad-based pharma entity, is planning to set up a joint venture with Arab Company for Drug Industries and Medical Appliances (ACDIMA) for setting up a project to manufacture 20 APIs. ACDIMA is promoted by 18 Arab nations for economic development of these nations through setting up of projects in various fields, including manufacturing of raw materials for pharmaceutical industry.

Arab nations have selected an Indian partner for the first time after scrutinizing the capabilities of various pharmaceutical units in the world. Dishman Pharma will hold 51 per cent of the equity capital and ACDIMA and local partner will hold remaining 49 per cent. Dishman will contribute to equity through fees for supply of technology and training for their personnel and the balance through supply of equipment and cash. The other details will be finalized shortly.

Dishman is focusing on contract manufacturing as a future growth area and negotiated five more long-term contracts for supply of initially the intermediates on a long-term basis. Earlier, it had entered the long-term contract with global pharma major, Solvay Pharmaceuticals BV Netherlands. The company is now negotiating for supply to contract manufacture various molecules used by them as their raw material or intermediate.

The company entered into supply agreement with NU SCAAN, UK for development and manufacture of bulk actives for neutraceutical products. The company acquired the business and technology basket pertaining to a group of speciality chemical products from C6, a UK-based company. The speciality products will be manufactured by Dishman and marketed globally by C6.

The company recorded export earning of Rs 124 crore during the year ended March 2005 as against Rs 95 crore in the previous year.