Shilpa Medicare Limited has signed a MoU to form a joint venture company to manufacture drugs and pharmaceuticals with ICE S. r. l. and PCA S. p. a of Italy.

The joint venture company will be called as Raichem Medicare (P) Limited.

It should be noted that Shilpa Medicare Limited and ICE S. r. l. are working together for the last seven years for custom synthesis under confidentiality agreement, and the success of this led into formation of joint venture.

Italy-based ICE S. r. l. or Industria Chimica Emiliana, is one of the major manufacturers of Bile acid derivatives such as cholic acid and Urosodeoxycholic acid. In addition, ICE S. r. l. is the largest manufacturer of Cholic acids and holds COS for Cholic acid and Ursodeoxycholic acid.

While, PCA S. p. a. or Prodotti Chimi Alimentari S. p. a., is a USFDA approved Italian company manufacturing Ursodeoxycholic acid. The firm is the largest producer of Ursodeoxycholic acid in Europe.

ICE S. r. l. holds more than 90% shares in PCA S. p. a.

(via TopNews. Contributed by Shilpa Mahapatre)