Financial Daily from THE HINDU group of publications
Friday, Jun 25, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 25, 2004 |
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Corporate
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Alliances & Joint Ventures Ranbaxy ties up with Atrix for prostrate drug Our Bureau
New Delhi , June 24 RANBAXY Laboratories Ltd has entered into an exclusive licensing agreement with the Nasdaq-listed Atrix Laboratories Inc to develop and commercialise Eligard, a drug used to treat prostrate cancer in India. Ranbaxy has licensed the rights to register and market the injectible suspension of Eligard 7.5 mg once-a-month, Eligard 22.5 mg three-month and Eligard 30 mg four-month products in India and also maintains the option to licence the Eligard 45 mg six-month product. The company would also be responsible for all regulatory submissions and any studies that would be necessary to gain approval with the Indian regulatory authorities while Atrix will manufacture the products for Ranbaxy in their facility in Fort Collins, Colorado. In a statement, Mr Sanjeev I. Dani, Regional Director, India, Ranbaxy, said, "Ranbaxy is delighted to partner with Atrix in this area and we shall work towards creating a productive relationship by complementing each others strengths. Prostate cancer being a nascent segment has a strong growth potential. The agreement will complement Ranbaxy's focus in the area of urology."
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