The Hindu Business Line : Claris signs pact with Spanish co Juste Pharma

Claris Lifesciences Ltd has announced its entry into Spain, signing a marketing agreement with Juste Pharmaceuticals, one of the oldest and leading pharmaceutical companies in the Iberian country.

Spain is the fifth largest pharmaceutical market in Europe after Germany, France, the UK and Italy. Through this agreement, Claris and Juste plan to leverage each other's strengths in the niche segment of hospital injectables, the Rs 400-crore Ahmedabad-based company said here in a release.

Under the agreement, the two companies will work together to introduce select hospital injectable products into the country, starting with propofol. Provive/Profol, the company's brand of propofol, is one of its flagship products with presence in 44 countries and market leadership position in India and several other international markets.

To strengthen presence

For Claris, this agreement is a platform to further strengthen its presence in the European Union and one more significant milestone as a part of its regulated markets strategy. Claris already has marketing and distribution network set up in more than 20 countries in the EU, making it one of the more widely represented Indian companies in EU.

The European injectable market is the second largest in world, which is approximately $20 billion. The European and the US injectable market together are estimated to be around $120 billion.

Claris has nine ANDAs filed in the US and over 40 marketing authorisation applications filed in the EU, which will significantly enhance its presence in the region by 2006-07.

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