Ranbaxy in-licenses cosmetic product Neuronox from Medy-Tox, South Korea

Ranbaxy Laboratories has entered into a strategic in-licensing agreement for the Indian market, with Medy-Tox Inc (Medy-Tox), South Korea's largest biotech venture, for its cosmetic product, Neuronox.

The introduction of this new alternative brand of Purified Botulinum Toxin Type –A, will strengthen the company's presence in the dermatological segment, a press release from the company said. This product is now made available in India through Ranbaxy.

Sanjeev Dani, senior vice president and regional director, Asia & CIS, Ranbaxy, said, ''Neuronox comes as a welcome alternative to dermatologists in India and we aim to make Botulinum Toxin therapy more accessible and affordable to people in the country.''

According to the company, presently, this product is the most effective anti-ageing medicine and is much superior to the available therapy options. The cosmetic use of Botulinum Toxin Type- A in the correction of facial wrinkles and hyperhidrosis (medical term for excessive sweating), has rapidly become one of the most popular cosmetic procedures worldwide. The current market size for the drug, in India, is approximately Rs30 crore per annum.

Medy-Tox has over 20 years of specialised research in Clostridium Botulinum toxins and related products. Botulinum Toxin-related pharmaceuticals and antibodies researched by Medy-Tox are today available in more than 30 countries across the world including some of the most developed and regulated market like Japan.