Mumtalakat accord with SBI Pharma for manufacturing plant in Bahrain
Bahrain Mumtalakat Holding Co, the investment arm of Bahrain, has signed an agreement with Japanese firm SBI Pharmaceuticals (a joint venture company founded by SBI Holdings and Cosmo Oil, towards setting up of a pharmaceutical production facility in the kingdom.
Initially, a memorandum of understanding (MoU) formalizes an understanding between both parties to explore cooperation including research, development and production, according to the Gulf Daily News.
Focusing on 5-aminolaevulinic acid (5-ALA), SBI Pharma develops pharmaceutical, cosmetic and health food products that contain the acid as the main active ingredient. Applications of 5-ALA include food supplements, cosmetics, cancer detection, diagnoses and screening, prevention and treatment of metabolic disorders and agricultural purposes.
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