Financial Daily from THE HINDU group of publications
Tuesday, Sep 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 07, 2004 |
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Corporate
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Alliances & Joint Ventures Unichem ties up with Lannett of US for generic drugs Our Bureau
Mumbai , Sept. 6 DOMESTIC pharma company Unichem Laboratories Ltd has entered into an agreement with Lannett Company Inc of the US for the exclusive supply of one or more generic drug products. Unichem will develop its formulations or finished dosage forms of the medicine, using its internally manufactured Active Pharmaceutical Ingredient (API), the company informed the BSE. Meanwhile, Dr P.A. Mody, Chairman and Managing Director of Unichem Laboratories, told Business Line that the agreement was for a drug in the anti-inflammatory segment and he expected the actual marketing of the drug in the US to start by "early 2006". By that time, the patent on the drug would also have expired, he said, unwilling to mention the name of the drug. Unichem has set up a new formulation development facility at Goa, exclusively for the US market. Once the proposed product is approved by the US Food and Drug Administration, Lannett will have the contractual right to market and distribute the products exclusively in the US. As per the terms of the agreement, the profits earned on sales will be equally shared by both Unichem and Lannett, the company said. Dr Mody pointed out that the two companies were in discussion to expand the scope of the agreement to more products. No details were given on the financial implications the agreement would have on Unichem's revenues, as more competitors were expected in the segment when the patent on the drug expires.
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