Elder, Rye ink licensing pact

Elder Health Care, part of the Elder Pharmaceuticals group, has entered into an in-licensing tie-up with Rye Pharmaceuticals Pty of Australia to develop, manufacture and market the later's wound care products for first aid and burn applications, in India. Rye Pharma is a is a pioneer in self-researched wound care, first aid and skin care products selling them in 28 countries around the world. The wound care segment in South Asia is estimated at Rs 1350 crore and growing at about 11 per cent.

With the in-licensing agreement, Elder will be launching the burn therapy product "�BurnAid of Rye into Indian market. BurnAid, a range of burn gels, gel dressings and burn kits, offer rapid cooling to the burn, and offer fast ongoing pain relief. The principal ingredient in BurnAid is tea tree oil (Melaleuca Oil) a scientifically proven natural substance having therapeutic benefits.

Rye's products are approved for sale in the US, European Union, Australia and few more global markets at present. Elder is working out plans to manufacture this product and similar other products of Rye - in India at its newly set up Uttaranchal facility.

Elder plans to take Rye's products to the defence and hospital sectors, industrial medical clinics, ambulances and all workplaces within the country. Elder is targeting a turnover of Rs 10-12 crore in the first year itself.

This alliance also marks Rye's entry into India. Anuj Saxena, managing director, Elder Health Caresaid that the group's focus in the years to come shall be to bring to India globally accepted products.

"We found Rye's products bio-chemically superior without any side effects." Adds John Price, Managing Director, Rye Pharmaceuticals," Elder group already has a substantial presence in the wound care segment through its highly successful products like 'Chymoral' and Salutyl' under license from ABC and 'Oxoferrin' under license from Oxochemie, Germany.