Ranbaxy forges strategic tie up with Zenotech for Oncology products
Mumbai, June 7 (UNI) Ranbaxy Pharmaceuticals Inc (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Ltd has entered into an agreement with Zenotech Laboratories Ltd of Hyderabad.
Announcing this, the company said as per the agreement, Zenotech Labs will develop, submit for regulatory approval, and manufacture a total of 11 oncology products, which Ranbaxy will market as generic formulations in the US and Canada under the Ranbaxy label. The combined branded sales of these products is USD 3.7 billion ($US, IMS - MAT: March 2006).
''We are pleased with this arrangement and the first products that have been agreed upon. We anticipate a number of additional products materializing in the days ahead as a result of this mutually beneficial partnership,'' according to Malvinder M Singh, CEO and Managing Director of Ranbaxy Laboratories.
Commenting on the agreement, Mr Dipak Chattraj, President - Corporate Development, Ranbaxy Inc, said, ''This strategic initiative by RPI will establish our presence in this therapeutic arena by offering a basket of products in the US and Canadian markets that has breath and depth in the management of patients diagnosed with cancer.
''Looking ahead, RPI is committed and will maintain a high level of visibility in the oncology segment. This agreement helps reinforce our position as a provider of high quality generic medicines that will be available at affordable prices.'' Zenotech is a specialty generic injectables company with a biotech core. Zenotech's predominantly high value injectables product portfolios serve niche therapy areas like oncology, anesthesiology, gynecology, and neurology. Zenotech has full fledged research and development facilities in India and in the US. Its oncology and biologics manufacturing facilities are located in India.
Ranbaxy Pharmaceuticals Inc (RPI), based in Jacksonville, Florida, is a wholly owned subsidiary of the company, India's largest pharmaceutical Company. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
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