South African healthcare group Litha, in a bid to access a wider range of generic brands, has signed its second agreement with an Indian pharmaceutical group in less than six weeks.
On Thursday, Litha, the fourth-largest pharmaceutical company on the Johannesburg Stock Exchange, announced an exclusive agreement between its subsidiary Litha Pharma and Micro Labs, an Indian generic pharmaceutical manufacturer. The deal includes a range of generic pharmaceutical products developed and manufactured by Micro Labs.
Litha CEO Selwyn Kahanovitz, said the Micro Labs agreement would allow the company to not only expand its pharma product portfolio, but offer South Africans access to more quality medicines.
"The significance of this agreement is substantial. Litha Pharma will now be able to target a wider range of therapeutic areas, specifically where there is scope for growth and a need for NDDS’s (novel drug delivery systems), he said."
Last month Litha announced a strategic link-up with Natco Pharma, Hyderabad-based generic pharmaceutical manufacturer. It was a deal that was considered a first move in building a formidable Indian-based generic supply network. Litha is likely to bring a few more deals with Indian pharma companies to book before year-end.
