Novo Mesto — The Krka pharmaceutical company based in Novo Mesto and its Chinese partner Ningbo Menovo Pharmaceutical set up a joint venture Ningbo Krka Menovo Pharmaceutical. In total, 60% share in the new company belong to Krka. The initial capital of Ningbo Krka Menovo Pharmaceutical will amount to 30 million euros. A three-member board of directors will lead the company. The Krka leadership informs that they will use the initial capital to fund the company development, purchase land plots and build production facilities for sterile drug dosage products. At the same time, Ningbo Menovo Pharmaceutical will manufacture the end products in the form of tablets and capsules under a long-term contract. In Krka, they expect that the first major sales will be achieved in China approximately in three years. Besides, the new joint venture will manufacture products for the European and other Krka’s markets.