Shilpa Medicare enters into JV with ICE and PCA in Italy

Shilpa Medicare Ltd, a leading active pharmaceutical ingredient manufacturer, has entered into a joint venture agreement with ICE S.r.l. and PCA, Spa of Italy. Under the agreement, it has set up a new company Raichem Medicare (P) Ltd. 

Both Shilpa and ICE (Industria Chemica Emiliana), Italy have been working together for the last seven years for custom synthesis under confidentiality agreement. The success of this has led to the joint venture, stated Omprakash Inani, chairman, Shilpa Medicare. 

While ICA is a recognized major manufacturer of bile acid derivative such as cholic acid which helps regulate cholesterol acid, PCA is a US FDA company manufacturing Ursodeoxycholic acid. Both the companies are the largest producers Ursodeoxycholic acid.