After Torrent Pharmaceuticals, another Ahmedabad based pharma firm Intas Pharmaceuticals Ltd has entered into a licensing and supply agreement with UK-based drug maker Astrazeneca. Intas will supply generic, high-end oncological products manufactured at its Matoda site near Ahmedabad to Astrazeneca. Intas declined to share the financial details of the deal.
Jayesh Shah, chief financial officer of Intas Pharma, said, "We have a received a couple of million dollars upfront from Astrazeneca now, and volume of supply would depend on as and when the registration dossiers are filed in respective countries". He also added that while Astrazeneca will source exclusively from Intas, the former could supply to other companies as well. "We have sufficient capacity at our Matoda plant, and also space for expansion. We can also supply to other pharma companies, as the deal is non-exclusive from our end", Shah told Business Standard.
The deal supports Astrazeneca's target of expanding its offering of branded generic medicines to emerging markets. The medicines sourced from Intas would be sold under Astrazeneca's name and would add to the UK-based drug makers basket of high-end injectable and oral solid oncological products that are complimentary to its existing therapy areas. Shah informed that the medicines would cater to a mix of markets including Latin American, African and Commonwealth of Independent States(CIS) countries.
$ 32.8 billion Astrazeneca is the second largest drug maker in UK, and has already inked a long term supply deal with Ahmedabad's Torrent Pharma earlier this year for 18 products in nine countries. While the financial details of the Torrent deal were also not disclosed, Astrazeneca had indicated that further products and countries could be added.
Intas, that is planning a listing soon, has a presence across 42 countries worldwide. It focuses on areas of central nervous system(CNS) disorders, cardiovascular disease,diabetes,gastroenterology,urology, pain management,animal health care,oncology and biotechnology.
It had recorded a net sales of $ 355 million in 2009-10 fiscal.
Similar agreements were concluded last year by Pfizer, the world’s largest drug maker, with Aurobindo Pharma, Strides Arcolab and Claris Lifesciences.
