Indian pharma major Ranbaxy Laboratories Limited has signed an exclusive licensing agreement with Swiss biopharmaceutical development company Debiopharm Group to market its new gastro-enterology drug.
Debiopharm's new drug Sanvar, an injectable molecule, is for treatment of acute variceal bleeding and prevention of rebleeding related to portal hypertension, Ranbaxy said in a statement Monday.
Sanvar (vapreotide acetate) is a synthetic octapeptide analogue of the naturally-occurring somatostatin hormone. Sanvar can be used in combination with specific treatment such as sclerotherapy or band ligation.
Under the agreement, Ranbaxy will have exclusive marketing rights for Sanvar in India, Bangladesh and Nepal.
Sanvar has been granted orphan drug status in the US where it is presently undergoing Phase III clinical trials. Debiopharm expects to file Sanvar for approval in the US in first quarter of 2007.
"We are glad to partner with Debiopharm in the gastro-enterology area and shall work towards creating a productive relationship by complementing each others strengths. The agreement will enable Ranbaxy to increase its focus in this segment," said Sanjeev Dani, Ranbaxy regional director India and the Middle East.