As per the terms of the agreement, OTL will licence intellectual property and supply finished dosage form pharmaceuticals to GSK. The licensing and supply agreement is for 95 emerging market countries excluding sub-Saharan Africa and India.
OTL is to recover intellectual property development costs from GSK in addition to sharing profits with GSK from the commercialisation of the products. The first of the products targeting all aspects of cancer drugs will be commercialised under this arrangement and is expected to be launched in 2010.
Commenting on the development Arun Kumar, vice chairman and chief executive of Strides Arcolab said: "This deal with GSK reflects the value which has been created out of the joint venture between Strides and Aspen. Aspen is an important partner of Strides with collaboration on global basis. OTL has a robust product pipeline which august well for the growth of this business."
Stephen Saad, chief executive of Aspen group said: "We see this as an opportunity to extend the global reach of the OTL business benefiting from GSK's strength in branding and marketing. GSK will achieve effective distribution for products in many countries which OTL is presently unable to reach."