Ajanta Pharma Out Licences Product Technology to Orient Europharma of Taiwan

Ajanta Pharma Ltd has announced that it has entered into an agreement to out licence the technology of its highly successful anti-scar product 'Vaniza' to Orient Europharma (OE), one of the leading pharmaceutical Companies of Taiwan.

Under the agreement, the Company will transfer the technology of the product to OE for the markets of Taiwan, Macau, Hong Kong, Singapore and Malaysia. OE will manufacture the product at its cGMP approved plant in Taiwan based on technology provided by the Company. The agreement provides for an upfront lumpsum consideration and revenue sharing in the years ahead.

Announcing the tie-up, Mr. Yogesh Agrawal, Executive Director of the Company said, "This is a significant milestone for the Company, which we believe would be the forerunner for more such out licensing agreements in fixture."

The Company is a well established pharmaceutical Company with specialty products in dermatology, cardiology and ophthalmology and has been ranked by IMS amongst one of the fastest growing pharmaceutical Companies in India.

The Company is now focusing strongly on R&D and is engaged in developing new innovative 'first to market' pharmaceutical formulations through R&D efforts in new drug delivery systems. The Company's products enjoy strong market share in several sub therapeutic segments.

Last year, the Company developed a topical formulation for effective management and prevention of hypertrophic and keloid scars. This product (Vaniza) has been developed for the first time and has been proved highly successful on account of its effectiveness in managing scars results from trauma, burns and surgery.

Source : Equity Bulls

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