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India, Brazil Forge Pharma & Trade Pacts
22 Feb
Summary
- India and Brazil signed agreements on breast cancer medicine and iron ore blending.
- Research and development in strategic pharmaceutical ingredients will be enhanced.
- Trade and investment between India and Brazil are set to increase.
India and Brazil have solidified bilateral ties with several Memoranda of Understanding (MoUs) signed during Brazilian President Luiz Inacio Lula da Silva's recent visit. These agreements mark a significant step forward in cooperation across key sectors.
A crucial pact involves the joint development of Pertuzumab, a medicine indicated for HER-2 metastatic breast cancer. This collaboration was formalized between BahiaFarma, Biocon Biologics Ltd, and Bionovis.
Further enhancing economic ties, NMDC Ltd, Vale SA, and Adani Gangavaram Port Ltd have agreed to cooperate on an iron ore blending facility at Gangavaram Port. This project, valued at approximately USD 500 million, aims to create a Special Economic Zone for iron ore processing.
Another significant agreement was reached between Farmanguinhos/Fiocruz and Biocon Pharma Ltd. This MoU will establish research and development initiatives for strategic pharmaceutical ingredients and medicines for Brazil's public health system (SUS), with a focus on rare diseases and oncology.
To bolster commercial exchanges, ApexBrasil and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed an agreement to promote trade and foreign direct investment between the two countries.
