ASKA Pharmaceutical has agreed to establish a joint venture (JV) pharmaceutical company with Neopharma in India, the companies said in a statement. Under the agreement, the JV company will have a market capitalization of USD 12.5 million, in which ASKA will hold a 30% stake and Neopharma's subsidiary Omnicare Drugs India will hold the remaining 70%. ASKA and Neopharma will also construct a pharmaceutical manufacturing facility in India as part of the agreement, with manufacturing expected to commence in 2020.