Ipca Laboratories has entered into a Joint Venture agreement with Chongqing Holley Holding Co. Ltd. of China. The Joint Venture Company will engage itself in marketing Artemisinin based Active Pharmaceutical Ingredients and its Formulations. The paid-up share capital of the Joint Venture Company will be held equally by Ipca and Chongqing Holley Holding Co. Ltd.

The Bulk Drugs and Formulations required by the Joint Venture Company will be manufactured by Ipca from its facilities at Ratlam and Silvassa approved by World Health Organization (WHO). The Artemisinin requirement of the Joint Venture Company will be met by Holley Group. The Joint Venture Company will be set-up at SAIF-ZONE, Sharjah, UAE, release from IPCA stated.

Artemisinin based combination therapy has been recommended by WHO for the treatment of P. falciparum malaria. Holley Group of China is the largest manufacturer of Artemisinin in the world.