Ahmedabad-based pharma player Cadila Healthcare (Zydus Cadila) will start commercial supplies to US-based pharma giant Abbott for over 30 products by end of the financial year 2012-13.
The company had signed an out-licensing deal with Abbott to supply these products for 18 key emerging markets.
In an investors' presentation released to the Bombay Stock Exchange (BSE), Zydus Cadila has said that it will begin commercial supplies of over 30 products by the end of the fiscal year. It added that the company has already started development of the products and regulatory filings.
Zydus Cadila had signed in out-licensing deal with Illinois-based drug maker Abbott Laboratories in 2010, under which it was supposed to supply 24 products for 15 emerging markets to the US-based pharma giant. While the financial details of the deal were not disclosed, it did have an option for addition of 40 more products by Zydus.
The collaboration includes medicines for pain, cancer and cardiovascular, neurological and respiratory diseases.
"Pharmaceutical sales in emerging markets, including India, China and Brazil are expected to grow at three times the rate of developed markets," Abbott had said at the time of the deal.
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Cadila Healthcare has posted a 7.3% dip in net profit for the quarter ended September 30, 2012 to Rs 95.1 crore from Rs 102.6 crore in the corresponding quarter last fiscal. This includes minority interest and share of profit of associates, the company added in its release to the Bombay Stock Exchange.
Total income for the period, however, grew by 24.58% to Rs 1,554.1 crore during the quarter under review as against Rs 1,247.4 crore in the second quarter of the last financial year.