Elder Pharmaceuticals enters into alliance with Laboratories Farmaceuticos Rovi, S.A. of Spain for Anti Thrombotics

Elder Pharmaceuticals Ltd has announced that the Company has entered into an alliance with M/s. Laboratorios Farmaceuticos Rovi, S.A. of Spain to market advanced heparins (anti-thrombotics) in India for treatment and prevention of thrombo-embolic Venous diseases like deep vein thrombosis and pulmonary embolism. Established in Spain in 1946, M/s. Laboratorios Farmaceuticos Rovi, S.A (ROVI) is a Euro 100 million research-backed pharmaceuticals Company selling its products in more than 20 countries. Rovi invests 18% of its turnover in R & D and also exports science & technology to over 30 countries. ROVI pursues two very specialized lines of research, concentrating its efforts on the prevention and treatment of venous thrombo-embolic disease and contrast agents for image diagnosis.

To begin with, the joint initiative between the Company and Rovi shall see the introduction in India of the patented, US FDA approved product Bemiparin a second-generation low molecular weight heparin (LMWH) for the prevention & treatment of thrombo-embolic venous diseases. Bemiparin has consolidated its position in the anti-thrombotic market as the second most sold LMWH in Spain with a market share of 25% during 2006. In India, Bemiparin would be launched with the brand name of HIBOR shortly.

The total anti-thrombotic market in India is Rs 130 crore with products mainly from the MNCs like Sanofi, Aventis, Knoll, Pharmacia, Novartis, etc. The Company hopes to garner between 8% & 10% market share in the first year of launch itself.

"Anti-thrombotics constitute an important niche market for Elder Pharmaceuticals and we wanted to bring the most effective product range in this category to India" says Alok Saxena, Director (International), of the Company.

Source : Equity Bulls

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