Johannesburg:Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly $91 million. The facility will be South Africa’s first biotech manufacturing unit for the production of biosimilars. It is set to produce a range of affordable treatments for cancer and other autoimmune diseases for the African and global market. Davies described the signing as an important milestone in the project, which was initiated when Prime Minister Narendra Modi visited South Africa in July. Steve Lehrer, director and head Cipla BIOTEC, said the project will reduce the costs of medicine.

Source: Mint October 16, 2016 08:26 UTC