India's Orchid Chemicals & Pharmaceuticals Ltd said on Monday that US-based Apotex Corporation would sell its generic cephalosporins and other injectible antibiotics in the United States.
Orchid said it had signed an exclusive agreement with Apotex Corp, a wholly owned subsidiary of privately held Canadian generic drug maker Apotex Inc.
"Orchid will supply the injectible antibiotic finished dosage forms exclusively to Apotex and Apotex would source them exclusively from Orchid," the Indian
Orchid and Apotex plan to soon extend the agreement, which covers eight key injectibles, including three still under patent, to the Canadian market, it said.
The North American market annually consumes $1.5 billion worth of injectible antibiotic products targeted by Orchid and Apotex, it added.
Orchid's shares rose as much as 11.08 per cent on the news to a high of Rs 123.75, while the Bombay Stock Exchange benchmark index was up 0.66 per cent.
