Pharmaceutical and biotechnology major Wockhardt, has signed an in-licensing agreement with a Swiss firm, DSM Nutritional Products AG, to market Bonistein, a patented product, specially designed in the management of osteoporosis. As per ORG IMS, the anti-osteoporosis formulations market is worth over Rs 250 crore in India, growing at 19 per cent.
"There is a growing awareness of the debilitating problem of osteoporosis in India. Bonistein, an internationally acclaimed brand will complement and further strengthen our existing orthopaedic portfolio," said Wockhardt chairman Habil Khorakiwala. "Wockhardt will continue to offer the Indian medical practitioners break-through products that will cater to the needs of these emerging problems in holistic manner," he added.
India has close to 61 million people reportedly suffering from osteoporosis and nearly 50 per cent of this population are post-menopausal women. By 2030, as per the World Health Organisation, the population of post-menopausal women suffering from osteoporosis will be the 2nd highest in the world, next only to China.
Bonistein, a patented product with US FDA approval, is backed by extensive clinical trials and was first launched in the US in 2002. It is currently available in Europe, South Africa and many countries in Asia.
Wockhardt will launch Bonistein towards the mid of 2009. Earlier in 2007-08, Wockhardt signed in-licensing agreements for niche products that had proved their effectiveness in Europe and the US for treatment of vitiligo, scar treatment, osteo-arthritis, anti ageing, dental & musculo-skeletal pain.
DSM has annual sales of almost € 8.8 billion and employs around 23,000 people worldwide with sales and marketing presence in more than 100 countries.