Dubai: In recent weeks, supplies of generic medicines manufactured at the Dr. B.R. Shetty owned NeoPharma in UAE have dropped significantly. As confirmed by the local pharmacy sources, this disruption in production is starting to cause issues for regular buyers of these medicines, which have until now been less expensive options to branded drugs.
Dr. Shetty reportedly holds 100 per cent in the pharma business. It has units in the India, US, and Japan.
It was expected that Dr. Shetty would sell NeoPharma – or at least a significant stake in it – to raise money and pay off “debts” that he had collected on his other businesses, NMC Health and UAE Exchange Centre. Dr. Shetty recently had said to the media that he would be making a come back to the UAE to get his name cleared.
