Elder Pharma, Kose form JV

Elder Pharmaceuticals, on Tuesday, said it had formed a joint venture with Japan’s Kose Corporation to manufacture and sell cosmetics in India.

Kose will hold 60 per cent stake in the joint venture, Kose Elder (India) Pvt. Ltd., while Elder will have the rest.

“Kose products will be produced in the existing plant of Elder Pharmaceuticals in Paonta Sahib in Himachal Pradesh,” Elder Pharma Joint Managing Director Alok Saxena said.

On stream

The company was looking at getting the project on stream in the next three months, he added. Mr. Saxena said: “The initial investments could run into couple of million dollars. We have not finalised a business plan, but we are giving them complete support in manufacturing and distribution.”