Mumbai: In a far-reaching agreement, Zydus Cadila has become a ''partner of choice'' for marketing existing and new products of Schering AG, Germany, a research-based pharma major and one of the world's leading pharmaceutical companies.
The agreement assumes tremendous significance as this allows patented products of Schering to be marketed in India beyond 2005. A group of eight products have been identified for launch in India, of which five products will be introduced for the first time.
The strategic pact between the two companies also covers a landmark agreement on transfer of technology and manufacturing of Schering's products in India. These products fall in the women's healthcare segment and contrast media.
Besides this, Zydus Cadila will manufacture select products of Schering for a period of 10 years. This will be extendable by another five years. The products will be manufactured at Zydus Cadila's state-of-the-art manufacturing plant at Moraiya in Ahmedabad which is approved by some of the world's leading regulatory authorities including MCA of the UK and MCC of South Africa.
Schering, one of the key collaborators in the erstwhile German Remedies Ltd, is one of the leading players in the field of women's healthcare, contrast media and oncology.
Says Zydus Cadila chairman and managing director Pankaj R Patel: "As one of the collaborators, Schering has played a key role in promoting the growth of German Remedies in India. We value this relationship. I believe that this strategic agreement will be a far-reaching one in its impact and unlock value for both Zydus Cadila and Schering."