Pharma major Ranbaxy Laboratories Ltd on Tuesday said its wholly owned subsidiary Ranbaxy Pharmaceuticals Inc has signed an agreement with Hyderabad-based Zenotech Laboratories to market generic cancer drugs in the US and Canada.
Under the agreement, Zenotech Labs would develop, submit for regulatory approval and manufacture a total of 11 oncology products.
Ranbaxy would market these products as generic formulations in the US and Canadian markets under the Ranbaxy label, the company said in a statement. "We anticipate a number of additional products materialising in the days ahead as a result of this mutually beneficial partnership," Malvinder M Singh, CEO and managing director, Ranbaxy said.
The combined branded sales of the products that the two companies have agreed upon is estimated to be about $3.7 billion. Zenotech is a specialty generic injectables company with a biotech core and has full-fledged research and development facilities in India and the US.
Its oncology and biologics manufacturing facilities are located in India. "This strategic initiative by RPI will establish our presence in the therapeutic arena by offering a basket of products in the US and Canadian markets," Dipak Chattraj, president - corporate development, Ranbaxy said.