GlaxoSmithKline, Daiichi in hypertension drug deal in India

14 May 2008

GlaxoSmithKline Pharmaceuticals Ltd has signed a co-production agreement with Japanese drug maker Daiichi Sankyo Company Limited for the latter's anti-hypertensive drug Olmesartan Medoxomil and its combinations.

The agreement was signed between GlaxoSmithKline India Ltd and Daiichi Sanko India Pharma Ltd (DSIPL), a subsidiary of the Japanese pharmaceutical company.

The two companies will jointly promote the anti-hypertensive drug in India, according to a statement issued to the Bombay Stock Exchange.

The companies did not disclose financial details of the agreement.

"This agreement comes close on the heels of our in-licensing agreement for Micafungin last week. Our strategy as laid out at the beginning of the year of in-licensing products in specific high growth therapeutic areas is being rolled out and is well on track," GSK India managing director Hasit Joshipura said.

Olmesartan, with annual sales of $2 billion, is sold in more than 50 countries worldwide, the company said in the filing.