Ind Euro Pharma setting up cancer unit
Ind Euro Pharma, a subsidiary of the Indian Southern Herbals group, isto set up a pharmaceutical unit for the formulation of anticancer drugs and alkaloids at Vaderamanchana-halli in Jigani, near Bangalore.
The project has received approval from the state of Karnataka's committee for large projects and will get $40 million of investment from Margan Weinstein & Co of the USA. The US investor will also be providing a loan of $135 million to finance the program, while drug manufacturing technology will be obtained from Bristol-Myers Squibb and individual scientists.
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