Koushan Pharmed and SMB signed a Joint Venture Agreement on Monday 31st October. The JV will cover:
•Joint Venture Agreement for Manufacturing Plant
•Establishment of Respiratory Research Centre
•Export of Respiratory Products to Iran Neighboring Countries
The development of 5 products is already started in Belgian until the research Centre in Iran gets up and running and Koushan Pharmed starts developing new products locally in Iran. We believe it was one of the very best times in pharmaceutical business between Belgium and Iran, because the JV was signed between two of the best pharmaceutical companies in Iran and Belgium. The two companies worked hard over the past three years to pave the way and overcome all the challenges to get to this point. By signing this agreement the Belgium party will transfer the technology for manufacturing innovative and world class respiratory products to Iran through Koushan Pharmed. SMB will enjoy stepping into the second largest economy in the Middle Eastern region while Iran pharmaceutical will benefit from high end products which is produced locally here in Iran with cost effective solutions. This means Iranian patients will have access to the high value products while paying the minimum. The manufacturing plant will be established in Pardis Park (http://en.techpark.ir/ ) which is one of the most suitable areas for pharmaceutical manufacturing in Iran. We, Koushan Pharmed look forward to the next stage of this partnership.