Ranbaxy Laboratories has announced a strategic marketing alliance with Hyderabad-based Zenotech Laboratories for oncology products in Latin American markets including Brazil and Mexico, besides Russia and other CIS markets.
According to a Ranbaxy release, the company would leverage its marketing and distribution network to market Zenotech's oncology cytotoxic injectible products under the 'Ranbaxy' label. The agreement is semi-exclusive in nature and the collaboration would expand to other overseas markets.
A Ranbaxy spokesperson refused to comment on what these other markets would be and the financial arrangement involved.
Commenting on the development, Peter Burema, president of Europe, Africa, CIS and Latin America, Ranbaxy Labs said, "The alliance facilitates Ranbaxy's entry into this new segment in these key markets."
Zenotech will develop and manufacture these oncology products at their dedicated facilities located in India.
Zenotech CEO Jayaram Chigurupati said, "This collaboration will enable us to expand market reach of our speciality injectibles portfolio to cancer patients in several emerging markets around the world. The alliance will positively impact Zenotech in speeding up its own bio-generics development program."Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
