Nicholas Piramal India Limited has completed its in-licensing agreement with Genzyme Corporation, USA for Synvisc Viscose Supplementation for the Indian market.
It is believed that the five-year alliance is poised to augment NPIL's presence in the field of orthopedics.
Genzyme Corporation, Cambridge, USA, which is the 4th largest biotech company with a revenue base of $1.6 billion, has a strong presence in the fields of orthopedics, renal diseases, lisosomal storage disorders and Adhesion prevention.
The product has global sales of US$ 250 million and the Indian market size for this drug is estimated at Rs 20 crore. NPIL will market & distribute the product in India on exclusive basis, the release added.
Synvisc is a therapy for the local treatment of pain associated with osteoarthritis (OA) of the knee. It is a pill-free treatment that is injected directly into the knee. Successful treatment with Synvisc can help reduce or stop pain in an osteoarthritic knee, may increase mobility, and may allow for a higher and more comfortable level of activity.
Currently, NPIL's Ortho-therapy area includes two divisions - MS and Speciality (a division of the erstwhile Sarabhai Piramal Pharmaceuticals Pvt. Ltd.). NPIL leading brands include Vah, Valto, Rejoint, Rocaltrol, Esgipyrin, Biozobid rang, Suganril range and Contramal.