Natco Pharma has received an approval from the Board of Directors to incorporate a Subsidiary Company in Indonesia with an investment up to an amount not exceeding $3 million, of which, initially the company will invest $1 million for a stake of 51% as capital contribution and balance will be invested by the company as and when the funds are required by the subsidiary Company.
The balance stake of 49% will be held by PT. Mitra Medis Exim (MME), that belongs to Mitra Jaya Group which is a 40 year old multi-diversified group, as the co-promoter of the proposed subsidiary Company. MME is in the business of distribution for active pharmaceutical ingredients and excipients for the end users in Indonesia.
Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
