Mumbai, Aug. 28 -- The new JV entity would be based in the Kingdom of Saudi Arabia.

Leveraging their respective strengths, PPI will contribute its local market expertise, while the Shilpa Group will provide global R&D, manufacturing, and regulatory capabilities. The new limited liability company will be majority owned by PPI (70%), with Koanna holding a 30% stake.

The venture represents a significant step in Saudi Arabia's healthcare infrastructure and aligns with the Kingdom's Vision 2030 goals of economic diversification and localizing strategic industries.

The partnership will be executed in two key phases to ensure a swift market entry and a robust long-term manufacturing strategy.

In the first phase, Shilpa Group will supply fini...