Financial Daily from THE HINDU group of publications
Saturday, Apr 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Apr 17, 2004 |
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Alternative Medicines Marketing - Alliances & Joint Ventures Agri-Biz & Commodities - Animals & Livestock Novartis to market Charak's products P.T. Jyothi Datta
Mumbai , April 16 THEY may sound like strange bed-fellows, but ayurvedic company Charak Pharma has inked an alliance with multinational pharma major Novartis India for the promotion of three animal healthcare products from the Charak stable. Mr Pulin Shroff, Managing Director of Charak Pharma Private Ltd, told Business Line that the company had inked a five-year marketing alliance with Novartis for the promotion of Hormotone, Livovet and Milchey. "We have signed a royalty and mark-up agreement with Novartis for a five-year period. In this time, Novartis would promote these products and they will get the revenues from the sales and profits of these products. We will get a royalty payment, besides the mark-up amount," Mr Shroff said, unwilling to divulge details on the royalty. The alliance has just got operational, with the products being rolled out only in April, he said. While co-marketing alliances are not new in the allopathic segment, this could well be the first of its kind alliance in the country, where an ayurvedic company has tied-up with an allopathic major, he added. Hormotone is a poultry-related product used for menstrual modulation, while Livovet and Milchey are cattle-related products used for the liver and in lactation, respectively, Mr Shroff added. Novartis' animal healthcare business is about Rs 50 crore, while Charak's own business in this segment is about Rs 3 crore, contributed largely by the mentioned three products. He said that the alliance would help Charak's animal healthcare business to grow to Rs 10 crore in five years.
More Stories on : Alternative Medicines | Alliances & Joint Ventures | Animals & Livestock | Pharmaceuticals
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