Granules, Heritage enters strategic alliance

Hyderabad, July 5 (UNI) Granules India Ltd and US based Heritage Pharmaceuticals Inc have entered into a strategic alliance for the development, supply and marketing of generic pharmaceutical products for the US prescription drug market.

Granules India MD C Krishna Prasad in a statement today said, ''this is in line with our overall strategy for partnering with prescription product marketers on a development and manufacturing agreement. We are confident that Heritage will deliver the required market share to make it a mutually profitable business model''.

Under the agreement, Granules would develop and register selected products for US ANDA (Abbreviated New Drug Application) submission and Heritage would retain exclusive sales and marketing rights to such products.

UNI