Cipla signed a distribution agreement with Roche Products (India) to expand scope of the partnership to include, marketing and distribution of Roche's trademark oncology drugs.
The announcement was made after market hours yesterday. Shares of Cipla rose 0.16% to end at Rs 641.55 on Thursday.
Cipla and Roche Products (India) Pvt. Ltd. (Roche Pharma) yesterday announced that the two companies have entered into an agreement to provide better access to innovative medicines for patients in India. Under this agreement, Cipla will be responsible for marketing and distribution of Roche Pharma's key trademark oncology drugs viz.,Trastuzumab (Herclon), Bevacizumab (Avastin) and Rituximab (Ristova).
Roche and Cipla had previously entered into a similar agreement in February 2018 for promotion and distribution of Tocilizumab (Actemra) and other products.
Roche Products (India) was incorporated in 1994 as a wholly owned subsidiary of the Roche Group, headquartered in Basel, Switzerland. Roche is the world's largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system.
Commenting on the partnership, Nikhil Chopra, Executive Vice President & CEO - India Business, Cipla said the company is pleased to strengthen partnership with Roche towards bringing innovative oncology medications to India.
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Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics. Its strengths are in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments.
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