Mumbai, July 6 (UNI) Elder Pharmaceuticals Limited has inked an in-licensing agreement with Israel-based Enzymotec to launch cholestrol-reducing medicine 'CardiaBeat' in India in September.
The Rs 500 crore company will launch CardiaBeat in India under the brandname Lipicheck. As per the agreement, Enzymotec will manufacture and supply the active ingredient to Elder which, in turn, will manufacture and market the medicine in India.
Elder is expected to generate Rs 20 crore revenue by the end of this year through the sale of new product, said company.The company had signed agreements with seven international players in past few years to import medicines in India.
These include Medichem International (UK), Sterisol AB (Sweden), Rye Pharma (Australia), Farmaka (Italy), F Hoffman (Switzerland), Rovi (Spain) and Cymbiotics (US).