Bangalore-based Strides Arcolabs' Canadian injectable drug division Agila Specialties Pharma Corporation has formed a joint venture with Canadian generic drug company Jamp Pharma, for introducing injectable generic drugs in Canada.
The sales and marketing joint venture will operate under the name 'Agila-Jamp Canada Inc' in which Agila will hold 70 per cent stake and the remaining 30 per cent by Jamp Pharma. The JV will be headquartered in Boucherville, Québec.
Agila-Jamp will be launching around 40 products in the next two years, most of which, have already been approved by Health Canada and will be immediately launched through local hospitals and pharmacists.
The existing sales force at Jamp Pharma will be responsible to introduce the entire Agila-Jamp product portfolio.
''We have been looking to bring our quality products to Canada for quite some time. We have found in Jamp Pharma, a company that understands and will help us develop a market which needs our expertise in the development and manufacturing of injectable drugs,'' said Adam Levitt, Agila Specialties CEO - North America.
''Recent events have demonstrated that Canada is in dire need for a more diversified offering in terms of quality injectable generic drugs. Canadian hospitals, pharmacists and patients must be able to rely on a regular, steady and safe supply of critical and essential injectable drugs. We are proud that our products will help our healthcare system,'' said Louis Pilon, president and CEO Jamp Pharma.
Founded in 1988, privately-held JampPharma specialises in the development, distribution and marketing of branded generic drugs and non-prescription products.