Ranbaxy buys Senetek's autoinjector business

A DAY OF DEALS FOR CORPORATE INDIA

The move is in line with firm's plans to expand its product portfolio in the US, world markets.

Ranbaxy Pharmaceuticals Inc (RPI) has purchased patents, trademarks and automated manufacturing equipment for Senetek Plc's proprietary disposable autoinjector for emergency treatment of allergies like those from peanuts. RPI is a wholly owned subsidiary of Ranbaxy Laboratories in the US.

While declining to mention the sum for which the deal was struck, a Ranbaxy spokesperson said, "The acquisitions are in line with our business strategy. This time, it is the acquisition of technology which will give us worldwide rights over the intellectual property as well as the equipment."

The Indian major has to provide for a non-refundable payment and milestone payments based on regulatory approvals and cumulative sales. The percentage of Ranbaxy's quarterly net sales of the product to Senetek too wasn't disclosed.

"It is largely to expand our product portfolio in the US market initially and later, throughout the world," the Ranbaxy spokesperson said. Ranbaxy will also evaluate the manufacturing and supplying of other drugs like Senetek's patented erectile dysfunction drug, Invicorp. The company would also make infrastructure investments, the release said.

Chairman of Ranbaxy Inc, the US parent company of RPI, Dipak Chattaraj said, "Anaphylactic shock due to allergic reaction to peanut-based food additives is a growing health risk that currently results in over 30,000 emergency room trips and 150-200 preventable deaths in the US each year."