Shasun Pharmaceuticals has signed the joint venture agreement on Friday with SeQuent. The joint venture company has been formed to develop, manufacture and sell veterinary products including both API (active pharmaceutical ingredients) and formulations to cater to the global market. In line with the agreement, the company has also executed a slump sale agreement transferring its Visakhapatnam facility to joint venture company. SeQuent and Shasun will hold 73 per cent and 27 per cent respectively in the joint venture.
The venture is expected to be operational in the first quarter of 2014-15, the company informed the BSE.