India-based Sun Pharmaceutical Industries Ltd (Sun Pharma), a global pharmaceutical company headquartered in Mumbai, is planning to open branch office and to expand its business in Myanmar, according to the reports.
The Directorate of Investment and Companies Administration-DICA has already granted permission of Sun Pharma company registration (Interim) on July 30th to expend its pharmaceutical services in Myanmar.
The company is now discussing with the officials from DICA matters on required law, by-law, and the rules and regulation of the investment.
Sun Pharmaceutical Industries Ltd is one of the biggest pharmacy companies in India, manufacturing 500 kinds of products and producing between 25 to 30 new medicines yearly. The company was founded in 1983 and is exporting and selling medicines to various countries including the US and Europe.
The company is one of the leading pharmacies in medical fields such as Psychiatry, Neurology, Cardiology, Orthopedics, Ophthalmology, Gastroenterology and Nephrology.
In the past, the pharmaceutical factories owned by the government had been allowed the permission of medicine production.
Myanmar Investment Commission (MIC) laid down a policy concerning the manufacturing of medicines in accordance to international standards because medicine plays a vital role for saving human lives.
Source: Eleven Media