Caplin Point Laboratories has signed Co-operation agreement with Hainan Jointown Pharmaceuticals Group, a US$11 billion publicly-traded distribution company in China. This joint venture will focus on trading and manufacturing of various Pharmaceutical products between China, India and South America, for sustainable growth in the short, medium and long term.
Caplin will hold 39% stake in the JV which will have an initial Equity of USD 2 million, however, it has been agreed between the parties that the entire business arising out of this entity will be routed through Caplin and/or its subsidiary.
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