Nicholas Piramal seals an in-licensing agreement with Genzyme Corporation for the Indian market
By Mumbai: | 11 Aug 2004
Mumbai: Nicholas Piramal India (NPIL) has entered into a five-year exclusive in-licensing agreement with Genzyme Corporation, USA for Synvisc Viscose Supplementation for the Indian market. This in-licensing agreement is poised to augment NPIL's presence in the field of orthopedics.
Genzyme Corporation, Cambridge, USA, is the world's 4th largest biotech company with a revenue base of $1.6 billion, with a strong presence in orthopedics, renal diseases, lisosomal storage disorders and adhesion prevention.
Synvisc is a therapy for the local treatment of pain associated with osteoarthritis (OA) of the knee and is a widely accepted, safe and effective therapy that can provide long lasting pain relief for knee OA.
Synvisc is a pill-free treatment that is injected directly into the knee. Successful treatment with Synvisc can help reduce or stop pain in an osteoarthritic knee, may increase mobility, and may allow for a higher and more comfortable level of activity. Pain relief can last for up to six months and one may begin to feel relief after the first injection, but maximum results usually occur 8-12 weeks after the first injection.
The product has global sales of US $250 million, and is superior due to higher molecular weight of 60 lakh Daltons as against 5 to 6.5 lakh Daltons of currently available products. The Indian market size for this drug is estimated at Rs.20 Crores. NPIL will market and distribute the product in India on exclusive basis.
Currently NPIL's Ortho-therapy area includes two divisions — MS and speciality (a division of the erstwhile Sarabhai Piramal Pharmaceuticals.). NPIL is the third largest player in the 'pain' market, with a 5.5 percent share of the therapy. Their leading brands include Vah, Valto, Rejoint, Rocaltrol, Esgipyrin, Biozobid rang, Suganril range and Contramal.
Nicholas Piramal India recorded net sales of Rs.12.7 billion in Q1, 2004-05 and is ranked fourth in domestic formulations sales and second in total domestic pharmaceuticals sales.