Financial Daily from THE HINDU group of publications
Thursday, Feb 03, 2005
Financial Daily from THE HINDU group of publications Thursday, Feb 03, 2005 |
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Announcements Marketing - Channels and Franchises Strides Arcolab supply tie-up with Aussie co Mayne to include Europe Our Bureau
Mr Arun Kumar (left), CEO, Strides Group, and Mr Stuart James, CEO, Mayne Group, Australia, at a press conference in Bangalore on Wednesday.
Bangalore , Feb. 2 STRIDES Arcolab Ltd on Wednesday announced that its broadened supply arrangement with Australia's Mayne Group would extend its reach to Europe too. Their December 2004 pact for six anti-infective products covered only the US market. According to the papers formally exchanged today, Strides will manufacture and supply six injectable, non-cytotoxic products which Mayne Pharma Business Unit will market and distribute in the US and Europe. The products will be introduced in phases from fiscal 2006 and Mayne will make milestone payments to the Bangalore-based generics export major. The Strides Group CEO, Mr Arun Kumar, and the Mayne Group MD and CEO, Mr Stuart James, said IMS data had assessed these products to have annual sales of the over $1.1 billion until June 2004. Of this, the US alone accounted for $350 million worth of sales. Mr Kumar said Strides has been focussing on global hospital markets. The NSE-listed company has international supply tie-ups with Aspen of South Africa, SORM of Japan and Akorn of the US. The Mayne Group, listed on the Australian bourse, is involved in the manufacture of injectable and oral pharmaceuticals for distribution in over 50 countries, running of diagnostic services, pharmacy and health-related consumer products.
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