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Mumbai, Aug. 17 Ajanta Pharma Ltd has entered into an agreement to out-licence the technology of its anti-scar product Vaniza to Orient Europharma of Taiwan.

It is a first time alliance for Ajanta and it has received its first upfront payment, a company official told Business Line, without giving financial details.

The company will transfer the technology to Orient Europharma for the markets of Taiwan, Macau, Hong Kong, Singapore and Malaysia. Orient Europharma will manufacture the product at its plant in Taiwan and the production is expected to start by January, he said.

The agreement provides for an upfront payment, royalty and revenue-sharing in the years ahead, the official added. A second instalment is expected in another three months.

The product is an ethical product, to be sold on a doctor’s prescription, and is slated for launch in India around September or October. Ajanta’s domestic and international operations contributed equally to its consolidated sales of Rs 266 crore in March 2007.

More Stories on : Alliances & Joint Ventures | Pharmaceuticals

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