Lupin ties up with Salix to sell US firm’s drugs in Canada
13 Sep 2014
Lupin Ltd, India's fourth-largest drug manufacturer by sales, said today it has entered into an exclusive deal to market some products of US firm Salix Pharmaceuticals Inc in Canada, in a move to expand its footprint in that region.
Lupin will get an upfront payment from Salix, and is entitled to additional payments contingent on meeting some sales milestones, the Mumbai-based company said in a statement.
Lupin, whose largest market is the United States, has the option to sell other gastroenterology products in Salix's pipeline after approval by Candian regulators.
The deal includes Salix's Relistor injection for the treatment of opioid-induced constipation, and Zaxine for use in adults to help reduce risk of recurrence of overt hepatic encephalopathy - a disorder that causes worsening of brain function.
The announcement boosted Lupin's shares by 3 per cent at Rs1,360 rupees on the BSE this morning.
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