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Mr S. Kalyanasundaram, Managing Director, GlaxoSmithKline, and Mr Hideshi Honda, Vice-President, Global Pharmaceuticals Business, Eisai Co Ltd, at a press conference in Mumbai on Thursday — Paul Noronha

Mumbai , May 26

EISAI Pharmaceuticals India and GlaxoSmithKline Pharmaceuticals (GSK) have signed a co-promotion agreement to market the former's anti-ulcer drug, Paritec, in India.

Paritec, which was developed by Japanese drug major, Eisai Co Ltd, is a blockbuster product.

It has clocked revenues of $1.3 billion and is used in the treatment of acid-related disorders like peptic ulcer and reflux gastric disorders.

Eisai Co is the first Japanese pharmaceutical major to enter India and has a 100 per cent subsidiary in the country.

Mr S. Kalyanasundaram, Managing Director, GSK, said that Paritec fits into the company's existing portfolio comprising anti-ulcer drug, Zantac.

The drug is under price control, but GSK intends to continue with the Rs 50-crore Zantac, he said.

However, since Zantac has achieved "maturity", the company would shift resources to a modern generation drug, he added.

The bulk ingredient would be imported into India, where GSK would make the finished form of the medicine.

No details were made available on the pricing of the medicine or the sales target for the drug. Interestingly, there are already about 40 knock-offs of Paritec in India.

Mr Hideshi Honda, Executive Officer and Vice-President (Global Pharmaceuticals), Eisai Co, said that the growing Indian market was important for his company.

The company expects to launch three drugs over the next three years. Eisai's presence in India will be important for its global plans, he added.

On the tie-up, he said that GSK's strong field-force was one of the drivers of the deal.

Eisai has a similar promotion deal with Wockhardt for Methycobal, used to treat debilitating nerve disorders.

Meanwhile, a GSK official said, the estimated Rs 600-crore anti-peptic ulcer market is growing at 14 per cent.

Eisai is set to bring another of its blockbuster products, Aricept, into the country. The drug is used in treating Alzheimer's disease.

Mr Deepak A. Naik, Eisai's Managing Director in India, said that Aricept was a $1.5-billion product which would be launched in India shortly. He indicated that the company would bring this product to the Indian market on its own and not through an alliance.

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