Chennai-based pharmaceutical company Curis Lifesciences Limited has entered into a joint venture agreement with M/s. Eurosun Pharmaceuticals to serve as the exclusive exporter and distributor of its pharmaceutical products in Nigeria, the company informed the National Stock Exchange of India (NSE) on 25th December 2025.
Under the agreement, Eurosun Pharmaceuticals will manage product export, regulatory approvals, and market development in Nigeria. The JV ensures that both parties will not collaborate with other partners for the specified products within the Nigerian territory. The net profit or loss from Nigerian operations will be shared equally (50:50) between Curis Lifesciences and Eurosun Pharmaceuticals.
Notably, Curis Lifesciences does not hold any shares in Eurosun Pharmaceuticals, and the company clarified that the transaction does not constitute a related-party transaction. However, the agreement deviates from standard commercial practice, as Curis provides products based on an “Open Cost Sheet”, covering raw materials, process, and production costs, without a standard manufacturer’s profit margin at billing. The profit and loss sharing model essentially makes the arrangement functionally akin to a joint venture or partnership.
The JV does not involve the issuance of shares, and no nominees from Eurosun Pharmaceuticals will be appointed to the board of Curis Lifesciences. The company confirmed that any future amendments or termination of the agreement will be promptly disclosed to the stock exchange as required under SEBI regulations.
This collaboration represents a strategic step for Curis Lifesciences to expand its footprint in the Nigerian pharmaceutical market while leveraging Eurosun Pharmaceuticals’ expertise in distribution and regulatory compliance.
