AstraZeneca is keen to step up its operations in Asian region and the company is looking for potential opportunities to partner particularly with Indian pharma majors. The UK based multinational, which has its presence in 100 countries including India invested around US$ 20 million to carry out its research on drug resistant TB and malaria.
“We are looking at expanding our reach to other countries and reducing our assets in the US. We want to be in Asia and particularly in India because it makes good business sense. We are attracted to the scientific expertise here”, said Dr Patrick Keohane, vice president, research & development, AstraZeneca Asia Pacific, USA. Dr Keohane was in Bangalore in connection with the recently concluded Bangalore India Bio 2010
He said, “We have fared well in partnerships with Indian pharmaceutical companies. We work in collaboration to structure customized partnerships that allow the two companies to leverage capabilities and assets to enter into a win-win situation. When the two companies invest something they get something good in return. The end result is something that could not be achieved by working alone.”
According to Dr Keohane, India’s GDP and economic condition is improving, which means good news for pharmaceutical companies. The country is strengthening its capabilities by opening more scientific institutions and granting scholarships. Further, the entrepreneurship skills displayed in India where much higher than that of other countries. “AstraZeneca will continue to work with countries outside the UK and India will feature prominently in our work,” he asserted.
According to the company, besides in-licensing opportunities, it has looked at acquisitions, risk sharing deals, spin-outs, equity stakes, divestments and out-licensing deals. Among the notable deals in 2010 were AstraZenenca and CrystalGenomics Inc. for a research collaboration to discover and develop a novel anti-infective for use as a potential antibacterial agent. With Dako Denmark, it collaborated to develop companion diagnostic tests for multiple AstraZeneca oncology projects, including biologics and small molecules which are in various stages of discovery and development.
Pharmabiz had earlier reported that, AstraZeneca Pharma India inked an alliance with Bristol-Myers Squibb India in April this year to develop and commercialize two compounds for the treatment of type 2 diabetes. Both compounds were discovered by Bristol-Myers Squibb and this was the first time that two companies teamed up to combat a disease in India. In fact, the newly formed alliance also resulted in the introduction of saxagliptin, a new drug for the Indian market to combat type 2 diabetes.