Business Daily from THE HINDU group of publications
Thursday, Feb 15, 2007
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Business Daily from THE HINDU group of publications Thursday, Feb 15, 2007 ePaper |
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Overseas Investments Marketing - Channels and Franchises
Our Bureau
Dr Jayaram Chigurupati, Chief Executive Officer, Zenotech Laboratories Ltd, addressing a press conference in Mumbai on Wednesday. - Shashi Ashiwal
Having clinched a deal with Ranbaxy earlier this month for its first biosimilar GCSF (filgrastim), the Hyderabad-based company is in discussion with MNCs to get Erythropoietin (EPO) off the block as well. GCSF is used in cancer-related applications and EPO in kidney-related treatment; the cost to develop these drugs in Europe are $20 million and $60 million respectively, said Dr Jayaram Chigurupati, CEO. The deal with Ranbaxy involves upfront licensing fees and profit sharing after launch. Ranbaxy will commit resources to introduce the GCSF product for global marketing beginning with the EU, where regulations for biosimilars are in place, he said. The deal is semi-exclusive in markets outside Europe, he added. Ranbaxy holds seven per cent equity in Zenotech. Though financials of the deal have not been divulged for confidentiality reasons, GCSF is expected to see a price erosion of about 30 per cent when launched, according to Mr Chigurupati. Zenotech has 10 biosimilar products in the pipeline and will follow the strategy of partnering with companies for the development and marketing of these products, he told newspersons. The products are in the oncology, gynaecology and arthritis segments. The company also expects to start work this year on monoclonal antibodies developed in-house for cancer. Clinical development on generic rituximab is expected to commence in a couple of months, he said. But it will take a few more months before work starts on the other products, he added. Zenotech is also looking at filing 40 abbreviated new drug applications (ANDAs) in the US. It already has or is in the process of tying up with Ranbaxy for up to 14 ANDAs; the rest will be developed by itself, the Zenotech CEO said. The company broke even last year, clocking sales of Rs 13.5 crore for the period ended March 2006, he said. It expects to make profits this year, with revenues coming from its Ranbaxy deal, among others.
More Stories on : Overseas Investments | Channels and Franchises | Pharmaceuticals | Ranbaxy Laboratories Ltd
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