The US $ 125 million Elder Pharmaceuticals Ltd, an integrated Pharmaceutical company headquartered in Mumbai, India and the US based Cymbiotics Inc., a bio-pharmaceutical company in San Diego, California (USA) have entered into a major product licensing collaboration that covers novel formulations from Cymbiotics Inc.
The new collaboration is covering the areas of pain management, diabetes care, derma care and consumer health products for over the counter sales. One of the products licensed is Flexasur, which is a clinically proven formulation useful for the treatment of joint pain and inflammation in arthritis. The actives in Flexasur are sold in the USA under the brand name Celadrin, developed and owned by Imagenetix Inc, San Diego, CA (IAGX) and which is licensed to Cymbiotics.
Alok Saxena, director (International) of Elder said "This collaboration with Cymbiotics Inc. is important for us, as these novel formulations helps expand our product profile in the area of pain management, diabetes care and dermatology. For example the topically applied diaperin from Cymbiotics will augment the treatment options available for treating pain in diabetics due to peripheral neuropathies. This afflicts a significant per cent of diabetics".
Jack Bookout, executive vice president of Cymbiotics said "In addition to pain management in arthritis, Elder will be marketing a special formulation under the brand name of Flexasur to working people suffering from a major group of disorders called Repetitive Strain Injuries (RSI)"
RSI affects 20-30 per cent of the employees who sit in front of computers or other occupations, which requires repetitive activities. RSI is a major disorder and affects the productivity of workers in this key industry that affects the economy of India. Recent reports have shown also that RSI affects the teen and young adult population where SMS texting is numerous times a day. These young people have RSI in their digits and arms. Patients with RSI are treated by Orthopaedic surgeons and physicians specializing in RSI using Physiotherapy and also non-steroidal anti-inflammatory drugs.
Raj Barathur PhD, chief executive officer of Cymbiotics Inc. said "This collaboration with Elder Pharmaceuticals is important for Cymbiotics as this strengthens our current presence in the Indian market in Arthritic segments and helps us expand our product licenses in diabetes care and dermatology. We are excited about this collaboration as Elder is well known in India for establishing several branded prescription products and more recently has also a strong presence in the OTC markets in India".