India's Shilpa Medicare rises as unit inks JV with Saudi firm PPI

Shilpa Medicare

28/08/2025 05:42

** Shares of Shilpa Medicare SHME.NS rise 1.9% to 832 rupees, set to snap three day of losses, if current trend holds

** Co's unit agrees to form a joint venture with Saudi-based Pharma Pharmaceutical Industries & Biological Products (PPI)

** New company will be majority owned by PPI with a 70% stake, with Shilpa Medicare's Koanna holding the remainder

** Shilpa will prepare the full regulatory dossier in line with Saudi Food and Drug Authority (SFDA) requirements and lead the process to secure market authorization

** Stock up ~2%, YTD

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))