Sun Pharma to sell As­traZeneca's di­a­betes drugs in In­dia

The Pak Banker - - COMPANIES/BOSS -

MUM­BAI: Sun Phar­ma­ceu­ti­cal In­dus­tries Ltd on Wed­nes­day said it has reached an agree­ment with As­traZenceca Pharma In­dia Ltd to sell the lat­ter's Type 2 di­a­betes drug in In­dia. Un­der the agree­ment, Sun Pharma will pro­mote and dis­trib­ute As­traZenceca's da­pagliflozin un­der the brand name Oxra. As­traZeneca In­dia mar­kets da­pagliflozin un­der the brand name Forx­iga and both com­pa­nies will pro­mote, mar­ket & dis­trib­ute da­pagliflozin in In­dia un­der their own brand names. As­traZeneca will re­tain the in­tel­lec­tual prop­erty rights to da­pagliflozin, Sun Pharma said in a state­ment.

Di­a­betes is es­ti­mated to af­fect ap­prox­i­mately 69.2 mil­lion peo­ple in In­dia and more than 415 mil­lion peo­ple world­wide, ac­cord­ing to In­ter­na­tional Di­a­betes Fed­er­a­tion.

The size of the over­all In­dian anti-di­a­betes mar­ket is more than Rs.8,400 crore and grow­ing at ap­prox­i­mately 21% year on year, ac­cord­ing to IMS MAT data of Feb 2016.

The top five phar­ma­ceu­ti­cal com­pa­nies cu­mu­la­tively ac­count for half of In­dian di­a­betes drug mar­ket. Sun Pharma's cur­rent di­a­betes port­fo­lio com­prises of over 40 spe­cialty prod­ucts with a mar­ket share of more than 8%.

"Da­pagliflozin rep­re­sents a sig­nif­i­cant ad­vance­ment in the treat­ment of Type 2 di­a­betes and this agree­ment sup­ports our strat­egy of work­ing with a lo­cal part­ner to max­i­mize the value from our in­no­va­tive medicines in a key emerg­ing mar­ket. It en­sures a greater num­ber of pa­tients will have ac­cess to this im­por­tant treat­ment op­tion," said San­jay Mur­desh­war, man­ag­ing di­rec­tor, As­traZeneca In­dia. Sun Pharma will also gain the rights to pro­mote and dis­trib­ute the com­bi­na­tion of da­pagliflozin with met­formin un­der the brand name Oxramet, fol­low­ing reg­u­la­tory ap­proval. As­traZeneca In­dia is cur­rently seek­ing ap­proval from the Drug Con­troller Gen­eral of In­dia for the com­bi­na­tion of da­pagliflozin with met­formin, said the state­ment.

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