Sun Pharmaceutical Industries Ltd and MSD in India said they have entered into a partnership to market diabetes drugs Sitagliptin and Sitaglipitin plus Metformin in the Indian market.
Under the pact, which comes nearly two weeks after the two firms had agreed to form a joint venture, Sun will have the rights to sell the two drugs in the Indian market under different brand names.
"Through this partnership, the reach of Sitagliptin and Sitagliptin plus Metformin will be enhanced amongst doctors and patients in India, helping them efficaciously manage the disease," Sun Pharma Chief Executive Officer Kalyanasundaram said in a joint statement issued by the two firms.
MSD, which is a trade name of Merck & Co. Inc, said the partnership is focused on increasing the market access of Sitagliptin and Sitagliptin plus Metformin in India.
Commenting on the partnership, MSD in India Managing Director K G Ananthakrishnan said, "While MSD in India brings the scientific excellence and market success of the compound to the partnership, Sun Pharma brings its proven success and expertise in the marketing of drugs in the relevant therapeutic areas across India."
He said increasing the market access of the two drugs in India "is an urgent need, given the high disease burden of type II diabetes in India and the role of these drugs in helping to address the same".
On April 11, the two companies had announced 50:50 joint venture to develop, produce and market generic drugs in emerging markets.
Sun Pharmaceutical Industries Ltd's scrip was being quoted at Rs 445.05 in afternoon trade on the BSE, down 0.17 per cent from the previous close.
