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Strides, Australian firm ink pact
By siliconindia staff writer
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Wednesday, 02 February 2005, 20:30 IST
BANGALORE: Bangalore based Strides Arcolab Ltd, a developer and manufacturer of pharmaceuticals today entered into a strategic tie-up with Mayne Pharma of Australia to develop and produce six anti-infective drugs for the US and European markets.
This agreement comes close on the heels of a similar tie-up between the two firms in December for manufacturing six specialised injectable, non-cytotoxic products the Aus$3.5-billion Mayne will be marketing in the US.
According to the latest market data, the products to be outsourced by Mayne from Strides generated $1.1 billion in the US and Europe during 2003-04. The market size for injectables alone is estimated to be about $350 million in the US.
The anti-infective and sterile injectables will enter the regulated Western markets from 2006 onwards.
Mayne group managing director Stuart James said the tie-up was a tactical move in executing the global pharma's growth strategy, strengthening the firm's international sales and marketing presence for generic, hospital pharmaceuticals in the most regulated markets.
"The collaboration with Strides will enable us to benefit from the lower research and development and manufacturing costs in India. Our expansion in the anti-infective market in the US and Europe compliments our generic, injectable product portfolio with compelling offerings," James said.
The export-oriented company ranks among global pharma firms in manufacturing soft gelatins and sterile parenterals. The company has made a capex (capital expenditure) of $4 million during the current fiscal (2004-05) for executing the product contract of Mayne.
The company has similar partnerships with some of the global pharma majors such as Sandoz in Switzerland, Stada in Germany, Sigma in Australia, Perrigo in the US and UK, Pliva in Croatia, Akorn in the US and Aspen Pharmacare in South Africa.