Krka and Laurus Labs Ltd. from India reached an agreement to establish a joint venture, Krka Pharma Pvt. Ltd., in Hyderabad, India. In the new company, Krka will hold a 51% stake, while Laurus will have a 49% stake. The initial capital will amount to up to €50 million, provided in Indian rupees. The joint venture will allow Krka to manufacture finished products for new markets, including India.
Krka and Laurus have been collaborating contractually for several years, with their businesses complementing each other. After discussions on strengthening cooperation and leveraging synergies by combining expertise and resources, they agreed to establish the joint venture Krka Pharma Pvt. Ltd., headquartered in Hyderabad, India. Krka will own 51% of the company, while Laurus will hold 49%. The registration process and documentation are expected to be completed by the end of March 2024.
The parties have agreed on the gradual development of the new company. The company will prepare a plan for entering the Indian market and other non-EU markets where Krka and Laurus have not yet introduced their finished products.
The initial capital of the company will amount to up to €50 million, provided in Indian rupees. The founding partners have agreed to contribute capital gradually, according to financing needs. The development of business activities in the new company will also be gradual.
Statements from the Leadership
Jože Colarič, President of the Management Board and CEO of Krka, d.d., Novo mesto:
“Krka has been successfully collaborating with Laurus for many years. Both companies are committed to providing products of the highest quality. We believe that the joint venture will create synergistic effects, enabling both companies to explore new opportunities, enter new markets, and remain among the leading suppliers of pharmaceutical products in the international market.”
Dr. Satyanarayana Chava, CEO of Laurus Labs Ltd.:
“Our business relationship with Krka has matured over the years and continues to strengthen. With the joint venture, we have further reinforced our collaboration, allowing us to expand our product offerings and reach new markets. We also plan for the joint venture to eventually supply high-quality products to the Indian market.”
About Krka
Krka is an innovative manufacturer of generic medicines with 70 years of experience. It is known for its strong vertical integration of all business processes and cutting-edge products that not only meet the highest quality standards but are also affordable.
Krka provides access to a broad range of prescription medicines, over-the-counter products, and veterinary products to people in over 70 markets worldwide. The company specializes in solid pharmaceutical forms for the treatment of chronic diseases.
Krka is a market leader in Slovenia and has a strong presence in Eastern, Central, and Southeastern Europe, as well as Western Europe. It is also expanding into overseas markets.
With over 12,500 dedicated professionals, Krka operates subsidiaries and representative offices in numerous countries. Krka’s shares are listed on the Ljubljana Stock Exchange (LJSE) and the Warsaw Stock Exchange (WSE).
Krka is committed to corporate social responsibility, ensuring people’s well-being by providing high-quality, safe, and effective medicines. It also prioritizes environmental protection and reducing its ecological footprint.
Krka adheres to the highest standards of business ethics, integrity, and transparency. On November 24, 2023, Krka received an S&P Global CSA score of 50/100, ranking it among the top 10% of pharmaceutical companies in the industry on that date.
For more information about Krka, visit: www.krka.biz
About Laurus Labs
Founded in 2005, Laurus Labs is a research-driven pharmaceutical and biotechnology company dedicated to improving the quality of life for millions worldwide. Laurus is a global leader in selected active pharmaceutical ingredients (APIs), including:
- Antiretroviral drugs
- Oncology treatments (including high-potency APIs)
- Cardiovascular medicines
- Gastrointestinal treatments
Laurus provides integrated contract development and manufacturing services to global innovators, covering everything from clinical drug development to commercial production.
The company actively pursues technological advancements in smart and green chemical technologies, promoting efficiency and sustainable production. It maintains a well-established regulatory compliance system and high-quality standards.
Laurus employs over 6,500 people, including 1,250 scientists, across 11+ manufacturing facilities approved by international regulatory agencies such as:
- USFDA (United States Food and Drug Administration)
- WHO Geneva (World Health Organization)
- Japan PDMA
- UK MHRA (Medicines and Healthcare products Regulatory Agency)
- EMA (European Medicines Agency)
- TGA (Therapeutic Goods Administration, Australia)
In FY 2023, Laurus reported annual revenues of 60.41 billion Indian rupees. The company is publicly listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
Laurus is highly proactive in ensuring business transparency, integrity, and respect for the environment and communities. The MSCI rating agency has recognized Laurus for its corporate governance, and the company regularly receives the “Great Place to Work” certification along with a BBB rating.
For more information about Laurus, visit: www.lauruslabs.com