Ranbaxy in-licenses NDDS cardiovascular drug from ethypharm for Indian market

Ranbaxy Laboratories Ltd has announced that the Company has entered into a strategic in-licensing agreement for the Indian market, with Ethypharm LL India (Ethypharm), a wholly-owned subsidiary of a leading French drug delivery Company, for a Fixed Dose Combination of Fenofibrate micronized 160 mg and Atorvastatin 10 mg.

The Company will market the product under its brand name STORFIB(tm). Introduction of STORFIB will address the need for effective management of Mixed Dyslipidemia, which is very common amongst the Indian population. The product will be manufactured by Ethypharm, at its facility located near Mumbai.

Commenting on the agreement, Mr. Sanjeev I Dani, Regional Director, India and Middle East, of the Company said, "Ranbaxy in India, is the leader in Novel Drug Delivery System (NDDS products) and a pioneer in the Lipids management portfolio. The launch of STORFIB, which symbolises both these strengths, would further augment our leadership position in the cardio-vascular market."

Combinational products are growing very fast in India and it is estimated that more than two thirds of all combination products worldwide are registered first in India. Ethypharm endeavours to ensure that the benefits of its Drug Delivery technologies also encompass such combinational products. "This product encapsulates the benefits of both Combination offerings and Drug Delivery technologies and will help the large Indian populace who suffer from Combined (mixed) Dyslipidemia which is common culprit in Asian subcontinent including India", said Mr. Ajey Kumar, Chief Executive Officer of Ethypharm India.

Fenofibrate is a drug prescribed to lower triglycerides in cases of Hyperlipidemia while Atorvastatin is a cholesterol lowering drug. Ethypharm's enhanced absorption technologies serve to increase bioavailability of drugs like Fenofibrate thereby making it more efficacious, effective and safe medicine.

Earlier in May 2006, the Company had entered into a similar in-licensing agreement with Ethypharm, India, for marketing of Tramadol Flashtab®, a pain management drug. It is the Company's strategic intent to in-licence other value added Drug Delivery products for the Indian market to supplement its significant portfolio in this area. The Company's strong marketing and distribution network coupled with its own expertise in the segment, makes it a partner of choice for companies evaluating similar collaborative go-to-market arrangements.

Ethypharm is a French Company, present on the principal world health markets with manufacturing and R & D sites in Europe, North America, China and India. Ethypharm is headed by Gerard Leduc (Chairman and CEO) and Henry Martin (General Manager) since November 2005. The Ethypharm pharmaceutical Company focuses on developing, manufacturing and licensing pharmaceutical products based on optimization of delivery through proprietary technologies, mainly in the oral sustained release formulations. The Company has a special focus on pain management, cardiovascular, oncology and CNS branded and generic products. Over the years, Ethypharm has developed more than 50 branded and generic products, based on its core proprietary technologies.

Source : Equity Bulls

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