Wockhardt, a pharmaceutical and biotechnology company, has signed a 10 year in-licensing pact with the UK-based Sinclair Pharma to market a range of the former's dermatology and dental care drugs in India.
"As a part of our India business strategy, in-licensing is seen as one of our key growth drivers. These in-licensing deals will fulfill our aim of getting niche global products for the benefit of our Indian patients," Wockhardt Chairman Habil Khorakiwala said in a filing to the Bombay Stock Exchange.
The two companies are also in talks for contract manufacturing. Wockhardt plans to bring to India the next phase of dermatology products from the Sinclair stable.
Under the deal, Wockhardt will leverage its technological capabilities by manufacturing formulations in India from bulk imported from Sinclair Pharma, it said.
The 10-year exclusivity agreement covers a wide range of patented and innovative products, including Papulex (for acne), Atopiclair (for atopic dermatitis), Aloclair (for mouth ulcer) and Decapinol range (for gingivitis and plaque).
As per ORG IMS, the Indian dermatology market has been valued at about Rs 1,782 crore.