Ajanta Pharma out licences formulation technology to Taiwan''s Orient Europharma

Ajanta Pharma Ltd has announced having entered into an agreement to out licence the technology of its anti-scar product 'Vaniza' to Orient Europharma (OE), of Taiwan.

Vaniza is a topical formulation for effective management and prevention of hypertrophic and keloid scars and in managing scars results from trauma, burns and surgery.

The agreement provides for an upfront lump sum consideration and revenue sharing in the years ahead.

Under the agreement, Ajanta pharma will transfer the product technology to OE to manufacture the product for Taiwan, Macau, Hong Kong, Singapore and Malaysia. OE will manufacture the product at its cGMP-approved plant in Taiwan based on this technology.

Announcing the tie-up, Yogesh Agrawal, executive director, Ajanta Pharma, said, "This is a significant milestone for the company, which we believe would be the forerunner for more such out licensing agreements in future."

Ajanta Pharma has specialty products in dermatology, cardiology and ophthalmology and has been ranked by IMS amongst one of the fastest growing pharmaceutical companies in India.