Ranbaxy Laboratories' wholly-owned subsidiary in the US, Ranbaxy Pharmaceuticals Inc (RPI), has entered into an agreement with Hyderabad-based Zenotech Laboratories. According to an official release issued to the BSE today, under the agreement, Zenotech Labs will develop, submit for regulatory approval, and manufacture a total of 11 oncology products which Ranbaxy will market as generic formulations in USA and Canada under the Ranbaxy label. The combined branded sales of these products is $3.7 billion. "We are pleased with this arrangement and the first products that have been agreed upon. We anticipate a number of additional products to be finalised in the days ahead as a result of this mutually beneficial partnership," Malvinder M Singh, CEO & MD of Ranbaxy Labs, said.Dipak Chattraj, president(corporate development) of Ranbaxy Inc, said: "This strategic initiative will establish our presence in this arena by offering a basket of products in the US and Canadian markets that have breath and depth in the management of patients diagnosed with cancer. Looking ahead, RPI is committed and will maintain a high level of visibility in the oncology segment. This agreement helps reinforce our position as a provider of high quality generic medicines that will be available at affordable prices."
