Interpro will exclusively market Twilight's range of products in South Africa.
Mumbai, Oct. 19
With an eye on the South African pharmaceuticals market which is projected to touch $3 billion by 2012, Mumbai-based drug-maker Twilight Litaka Pharma Limited has picked up 26 per cent equity in South Africa's Interpro Healthcare Ltd.
Interpro will exclusively market Twilight's range of products, including anti-infectives, anti-tuberculosis, pain-management and nutra-supplements in South Africa.
It is a three-way participation in the unlisted Interpro, with 25 per cent being with the promoters, 25 per cent with medical professionals and the rest with public and trade, said Mr Gopal Ramourti, Managing Director, Twilight Litaka.
Interpro issued additional shares, he said, that were allotted to Twilight Litaka for the technology transferred on the products, he added.
Twilight Litaka already sells in about 14 African markets, he said, and the latest arrangement looks mainly at the South African market, he said. Exports account for about 9 per cent of the company's Rs 491-crore turnover.
Other contributors include contract manufacturing for multinational companies such as Novartis and local companies such as Lupin and Wockhardt, besides domestic sales. Twilight Litaka expects to clock Rs 650 crore by the end of the current fiscal.
Twilight Litaka shares were marginally down on the BSE, at Rs 181, on Tuesday.