Caplin Point Laboratories Ltd., and Hainan Jointown Pharmaceutical Group Co. Ltd., have signed a joint venture agreement for establishing a company, Hainan Jointown Caplinpoint Pharmaceutical Company Ltd. in Haikou City of China. Under the terms of the JV, Caplin will hold 39% stake in the JV which will have an initial equity of USD 2 million, however, it has been agreed between the parties that the entire business arising out of this entity will be routed through Caplin and/or its subsidiary.

This joint venture will focus on trading and manufacturing of various pharmaceutical products between China, India and South America, for sustainable growth in the short, medium and long term.