Indian Biotechnology company Biocon Ltd today said it had signed a joint venture with Abu Dhabi-based drug maker Neopharma. The deal is a step towards Biocon expanding its global network.

The joint venture, Neobiocon, will develop and market bio-pharmaceutical products in areas such as oncology, diabetes, cardiology and anti-obesity and will be housed in Dubai Biotechnology and Research Park, Dubiotech, from the company would access markets in Saudi Arabia, Kuwait, Bahrain, Qatar and Oman, in addition to the UAE.

Rakesh Bamzai, president (marketing) Biocon, said, "Neobiocon will offer products that cater to lifestyle disorders and oncology. We will also produce immunosuppressant drugs."

Immunosuppressants refers to suppression of the immune response, by use of drugs or radiation, in order to prevent the rejection of grafts or transplants or to control auto-immune diseases.

Neobiocon will also undertake to roll out educational campaigns through physician workshops to educate people on the effects of lifestyle diseases.

"We are delighted to be able to provide the advantage of Biocon''s proprietary biotech and other related bio- pharmaceutical pipeline products to the people in this region," Biocon CMD Kiran Mazumdar Shaw said.

The Gulf Cooperation Council says bio-therapeutics for cardiovascular diabetes and oncology segments represent the fastest growing class of drugs in the $5 billion pharmaceutical market.