Zydus Cadila and Abbott have entered a strategic agreement for commercializing branded generics in emerging markets. As per the agreement Abbott will license 24 branded generics of Zydus in 15 key emerging markets where Abbott has a strong and growing presence. The agreement also includes an option for additional 40 products to be included over the term of the collaboration. The products will be manufactured by Zydus Cadila for Abbott at its state-of-the-art manufacturing facilities in India. Financial terms of the agreement were undiscolsed.
While the deal allows Zydus Cadila to leverage its robust regulatory pipeline, innovative development capabilities and manufacturing strengths, it strengthens Abbott's global position, enabling it to further accelerate its emerging markets growth.
Speaking on the new development, Pankaj R Patel, chairman and managing director Zydus Cadila, said, "We have always believed in working with partners for win-win alliances that look at new opportunities for growth and expansion. In this alliance we see tremendous opportunity to participate in multiple ways in a market that is growing and expanding rapidly. Building on our mutual strengths we are creating a considerable competitive advantage for value creation for both partners over the long term."
Olivier Bohuon, executive vice president, Pharmaceutical Products Group, Abbott, said, "The Zydus agreement complements Abbott's established products strategy, augmenting this business with a broad portfolio of branded generics."
The collaboration includes medicines for pain, cancer and cardiovascular, neurological and respiratory diseases. The partnership will leverage Abbott's powerful emerging markets infrastructure - which was further strengthened with the recent acquisition of Solvay Pharmaceuticals - to commercialize Zydus' products, with product launches beginning in 2012.