 "Lupin to sell US-based Salix's drugs in Canada")
Mumbai-based Lupin Limited and US-based Salix Pharmaceuticals, Inc. (Salix) have entered a distribution agreement under which Salix has granted Lupin the exclusive right to market, distribute and sell certain Salix products in Canada.
Under the agreement, Lupin also has the option to exclusively market, distribute and sell other gastroenterology products in Salix's Canadian pipeline once approved by Health Canada. Salix will receive an upfront payment and distribution fees, and is eligible for additional pre-commercial and sales milestone payments. Salix will supply the products to Lupin under separate supply agreements, said a company statement.
On Friday, shares of Lupin closed at Rs 1,359, up by 2.93 % on BSE.
The deal includes immediate rights to distribute Zaxine (rifaximin - for reduction in risk of overt hepatic encephalopathy or abnormal brain function) and Relistor Subcutaneous injection for the treatment of opioid-induced constipation.