Ranbaxy Laboratories Limited (Ranbaxy) has entered into a strategic in-licensing agreement for the Indian market, with Medy-Tox Inc (Medy-Tox), South Korea's largest Botulinum -Toxin specialized Biotech Venture, for its cosmetic product, Neuronox. The introduction of this new alternative brand of Purified Botulinum Toxin Type -A, will strengthen the company's presence in the Dermatological segment.
Therapeutic equivalence and clinical trials conducted by Medy-Tox in various countries across the world, have confirmed the efficacy and safety of Neuronox in all respects. This product is now made available in India through Ranbaxy.
Commenting on the development, Sanjeev Dani, senior vice president & regional director - Asia & CIS, Ranbaxy, said, "Neuronox comes as a welcome alternative to Dermatologists in India and we aim to make Botulinum Toxin therapy more accessible and affordable to people in the country."
Presently, this product is the most effective anti-ageing medicine and is much superior to the available therapy options. The cosmetic use of Botulinum Toxin Type- A in the correction of facial wrinkles and hyperhidrosis (medical term for excessive sweating), has rapidly become one of the most popular cosmetic procedures worldwide. The current market size for the drug, in India, is approximately Rs 30 crore, per annum, with only one other player in the market apart from Ranbaxy.
Medy-Tox is a well-known company across the world, trusted for its R&D competence and has over 20 years of specialized research in Clostridium Botulinum toxins and related products. Botulinum Toxin-related pharmaceuticals and antibodies researched by Medy-Tox are today available in more than 30 countries across the world including some of the most developed and regulated market like Japan.