Pfizer signs deal with Strides of India to expand generics portfolio
Pfizer is to collaborate with Strides Arcolab of India in a deal that will expand the drugmaker's generics business.
Pfizer is to collaborate with Strides Arcolab of India in a deal that will expand the drugmaker's generics business.
The collaboration is expected to deliver 40 off-patent products, primarily cancer treatments. The first of products will be launched during 2010, the companies said.
"This agreement brings the total number of products in-licensed by our Established Products Business Unit to more than 200 - resulting in a total business unit portfolio of approximately 600 high-quality, reliable, and cost-effective products for patients," said David Simmons, president and general manager of Pfizer's Established Products Business Unit.
"Partnering with Pfizer enhances our ability to reach a larger base of customers and patients in need of quality treatment options," said Arun Kumar, Strides" founder and managing director.
Under the new deal, Pfizer will commercialise off-patent sterile injectable and oral products in the US through its Established Products Business Unit. These finished dosage form products will be licensed and supplied by Strides of Bangalore and Onco Laboratories and Onco Therapies, two joint ventures between Strides and Aspen of South Africa, in which each has a 50% stake.
The financial terms of the agreement were not disclosed.
Pfizer added that it is committed to becoming one of the top players in the injectables market.