Pharma major Ranbaxy Laboratories Ltd today said its wholly owned subsidiary Ranbaxy Pharmaceuticals Inc (RPI) has signed an agreement with Hyderabad-based Zenotech Laboratories Ltd to market generic cancer drugs in the US and Canada.
Under the agreement, Zenotech Labs would develop, submit for regulatory approval and manufacture a total of 11 oncology products. Ranbaxy would market these products as generic formulations in the US and Canadian markets under the Ranbaxy label, the company said in a statement.'We anticipate a number of additional products materialising in the days ahead as a result of this mutually beneficial partnership,' Ranbaxy's CEO and Managing Director Malvinder M Singh said.
The combined branded sales of the products that the two companies have agreed upon is estimated to be about 3.7 billion dollars.
Zenotech is a specialty generic injectables company with a biotech core and has full fledged research and development facilities in India and the US. Its oncology and biologics manufacturing facilities are located in India.
'This strategic initiative by RPI will establish our presence in the therapeutic arena by offering a basket of products in the US and Canadian markets that has breadth and depth in the management of patients diagnosed with cancer,' Ranbaxy Inc President - Corporate Development Dipak Chattraj said.
(Source:PTI News)
