Under the agreement, a new company 'Sonke Pharmaceuticals (Pty) Ltd' - would be formed wherein, Ranbaxy will hold 70 per cent equity and CIH will hold the rest 30 per cent stake, the company informed the Bombay Stock Exchange on Monday.
"Ranbaxy is delighted to join hands with CIH. This arrangement will allow us to serve the afflicted patients in the African market by providing them with quality ARV medicines at affordable prices," Desmond Brothers, chief executive officer, Ranbaxy (SA) (Pty) Ltd said.
The JV company would market the products under the trademark 'Sonke' in South Africa, Namibia and Botswana, it said.
The product delivery mechanism to the patients would be through government tenders, retail pharmacists, HIV/AIDS disease management companies, medical aids, non-governmental organisations and independent community treatment organizations, it added.
