The Bharuch-based J B Chemicals and Pharmaceuticals is looking at the American and European generics markets and is scouting for overseas partners to market drugs that are currently patented.
The company has already provided exclusive marketing rights of its ciprofloxacin to Larnett Company Inc, to market the drug in the United States, and is in the process of looking at prospective partners in Europe.
Although JBCPL has not fixed up revenues it aims to generate out of the deals with US and European partners, the worldwide generics market is worth $80 billion.
Kamlesh Udani, executive director (production), JBPCL, said even if a few billion dollars were the share of JBPCL, this will be considered satisfactory.
"Having given Larnett Company Inc the exclusive rights to market ciprofloxacin in the US, the company is now scouting for similar partners in Europe as well," he said.
This move, Udani stated, is important because once the patent regime ends, it will take considerable time for Indian companies to set up marketing networks in other continents.
"Larnet is a company that is firmly set in the generics business in the US. Even if we have to share our profits with it, it does not really matter, because it takes considerable time to set up one's own marketing network there," he said.
Udani, however, added that once the product is established in the market, it will depend on both companies to decide whether they want to carry on with the arrangement or discontinue it.
"Steps in the future will be taken based on the conditions that prevail at that time. As of now though, JPCPL plans to enter the generics market in a scenario which is fast changing," the official said.
JBCPL has formed a joint venture company NeoJB LLC with the US-based Spectrum Pharmaceuticals Inc. Larnett will receive ciprofloxaxin, widely used to treat bacterial infections, and market and supply it exclusively in the US.
NeoJB LLC is a 80:20 joint venture company between Spectrum and J B Life Science Overseas Limited, a subsidiary of JBCPL. The worldwide sales of ciprofloxaxin per year is about $1 billion.
Udani said while the first step at entering the generics market and adapting to post-patent regime has already been taken, a select basket of generic formulations can be supplied to the US through the same arrangement.
The company manufactures all its formulations at its plant located in Panoli in Bharuch district of Gujarat.
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