7 Chem & Ferring, France in $4mn pharma deal

7 Chemicals, an Ahmedabad-based exporter of pharmaceutical raw materials, finished formulations and chemicals, has inked a $4 million deal with Ferring Pharmaceuticals of France to supply oral contraceptive pills.

Speaking to Business Standard, Rakesh Ohri, managing director, 7 Chemicals, said, "The five-year deal is a strategic partnership with Ferring Pharmaceuticals as it gives us distribution rights for the contraceptive pills in Russia and the Commonwealth of Independent States (CIS)."

The company will manufacture the contraceptive pills in India which will be supplied to Ferring in France. "Basically, Ferring has outsourced the manufacturing of the pills to our company," said Ohri.

The contraceptives will be marketed by Ferring in France while the same will be marketed in Russian and the CIS countries by 7 Chemicals.

The contraceptive pills that will be manufactured by 7 Chemicals are generic in nature and will be packed in the form of contraceptive kits of two and three tablets. The company, however, declined to give the name of the generic drug due to the confidentiality agreement.

"The drug will not be sold in the domestic market," added Ohri.