New Delhi, Oct 23 (UNI) Ranbaxy Laboratories Ltd today said it has signed an exclusive licensing agreement with Swiss biopharmaceutical development company, Debiopharm Group, to market the latter's New Chemical Entity (NCE) drug in India, Bangladesh and Nepal.
''We are glad to partner with Debiopharm in the gastroenterology area and shall work towards creating a productive relationship by complementing each others strengths. The agreement will enable Ranbaxy to increase its focus in this segment,'' Ranbaxy Regional Director (India and West Asia) Sanjeev Dani said.
Sanvar (vapreotide acetate), catering to the gastroenterology segment, is a synthetic octapeptide analogue of the naturally-occurring somatostatin hormone.
It has been granted orphan drug status in the US where it is presently undergoing Phase III clinical trials. Debiopharm expects to file Sanvar for approval in the US in the first quarter of 2007.
''These partnerships demonstrate the value that Sanvar can add to a growing portfolio of late-stage compounds and we look forward to developing these and future relationships, to maximise the potential of the product,'' said of Loic Maurel, President and CEO of the Canadian affiliate of Debiopharm.
Debiopharm Group is a global independent biopharmaceutical development company specialising in oncology and serious medical conditions.
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