City-based drugmaker Intas Pharmaceuticals has entered into a licensing deal with Australia's Mayne Pharma Corporation to supply eleven injectables products for the Australian market.
Jayesh Shah, chief financial officer of Intas Pharmaceuticals confirmed the development. He, however, did not wish to comment on the deal size.
Mayne has signed a licensing a distribution agreement with Intas, thereby gaining access to eleven hospital products. The combined estimated sales of these injectables is around $ 73 million ( around Rs 390 crore) per annum (as per IMS Health).
"Mayne would be selling them under the Mayne brand in Australia", Shah said. Also, Mayne plans to file these products with the Therapeutic Goods Administration (TGA) during the 2013 calendar year.
Sources in Intas Pharma informed that as per the agreement, Mayne has also secured the right to first refusal for exclusive distribution of another 30 pipeline injectable products across the range of therapeutic areas. Till date, at least 15 of these pipeline products does not have any generic equivalent. The estimated market size of the 30 pipeline products, as per IMS Health, is around $140 million (around Rs 750 crore) per annum.
Earlier this year, Intas had signed a licensing agreement with another Australian drug company Phosphagenics Limited for the manufacture and sale of three anti-ageing products specifically formulated by Phosphagenics for the Indian market. Intas would pay royalty to the Melbourne drug delivery technology company to market the products. The Ahmedabad based firm also has a licensing pact with global drug major Astrazeneca for high-end oncology products, according to which Astrazeneca would buy oncology products from Intas and sell it globally.
Intas has raised around Rs 300 crore from private equity player ChrysCapital in April this year after it deferred its initial public offering owing to volatile market conditions.