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Rediff.com  » Business » Orchid inks pact with Mayne Pharma

Orchid inks pact with Mayne Pharma

October 04, 2005 12:16 IST
Orchid Chemicals and Pharmaceuticals Ltd has entered into a marketing alliance with Australia-based Mayne Pharma, for distribution of select life-saving injectable antibiotic formulations.

The alliance will cover markets in US, Canada, European and Australian geographies, the company on Tuesday informed Bombay Stock Exchange.

The products to be marketed through Mayne Pharma have a current market size of over $1 billion in the said markets.

"Sales out of this alliance will happen in a year, the impacts of which could be seen in turnover and profitability in the beginning of 2007. The products will mature during 2007-09, " M D Raghavendra Rao, managing director, Orchid Chemicals said.

Mayne will provide development funding to the company for the products upon execution of the agreement and the profits be shared amongst the partners. Orchid Chemicals recently entered the US market with a generic version of Ceftriaxone, upon its patent expiry.

The company plans to expand its regulated market presence with sterile and oral products as per US Federal Drugs Administration approvals.

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