Global Navigation
AZ agrees generics deal with Torrent
AstraZeneca (AZ) has announced it is to enter into an agreement with Indian based drug makers Torrent Pharmaceuticals to purchase the licenses to a portfolio of generic medicines.
The deal will see the anglo-Swedish pharmaceutical giants obtain from Torrent the licenses and market authorisations for 18 products in nine countries, with AZ looking to 'capitalise' on the increasing prospects for pharmaceutical companies in emerging markets, including India.
In a statement, AZ claimed that emerging markets are "forecast to contribute around 70 per cent of pharmaceutical industry growth in the next five years, and branded generics represent approximately 50 per cent by value in these emerging markets."
As part of the deal, for which no financial details were disclosed, AZ will also gain the flexibility to add further products and new countries for which the company sees expansion opportunities.
Torrent, who currently produce and supply its products into more than 50 countries, will continue to manufacture the medicines.
Tony Zook, head of AstraZeneca's global commercial organisation, said: "In markets where consumers and physicians have a strong preference for trusted brands, we believe AstraZeneca's long-standing reputation for quality is a sustainable competitive advantage. Working in partnership with Torrent will extend the range of branded medicines we can offer to patients in emerging markets, where we see continuing opportunities for our business to grow."
Published: 11/03/2010
Content Area: Pharmaceutical industry articlesArticle type: Healthcare news
