Sanofi Aventis & Multicare ink strategic agreement in the Philippines
Sanofi-Aventis Philippines Inc., which is part of the Sanofi Group, and Multicare Pharmaceuticals (Multicare), the Philippines subsidiary of Lupin limited, have entered into a marketing and distribution agreement whereby Multicare will market Sanofi-Aventis's Central Nervous System (CNS) global brands, Solian (Amisulpride) and Sulnox (Zolpidcm Hemitartrate) in the Philippines. The annual sales revenues of these brands arc valued at PHP 138 million (IMS).
Solian is the 3rd largest selling atypical anti-psychotic agent in the Philippines. It is indicated for acute and chronic schizophrenia characterized by both negative and positive symptoms. StLlnox is the second largest selling drug for insomnia and sleep disorders in the country. The agreement will enable Sanofi-Aventis to capitalize on Multicare's CNS marketing reach and expertise. Multicare will focus on bringing these brands into a higher growth path. Sanofi-Aventis is the seventh largest pharmaceutical company in the Philippines with over PHP 4 billion sales turnover (IMS, June 2011 MAT).
Sanofi has seven growth platforms; diabetes solutions, human vaccines, innovative drugs, rare diseases, consumer healthcare, emerging markets, and animal health. Solian and Stilnox will be marketed by Multicare's dedicated CNS Business Unit Multicare's CNS Team has a promotional reach of 95 per cent MD coverage in the market. 'The inclusion of the Sanofi brands will further strengthen and consolidate Multicare's positioning as a leading CNS player in the country.
Romey Sy, president, Multicare said “We are delighted with this opportunity to expand our portfolio and market Sanofi's leading brands, Solian and Stilnos. This coupled with our current CNS range and other differentiated products in our pipeline will propel us to emerge as a leading CNS player in the country.” Multicare has four key strategic business units focused on Women's Health, Pediatrics, Respiratory, Gl, Diabetes Care & CNS and is amongst the fastest growing pharmaceutical companies in the Philippines market and recorded sales of PHP 480 million (IMS, June 2011 MAT).
Commenting on the same, Vinod Dhawan, president, AAMLA and Business Development, Lupin Limited said “The agreement demonstrates Lupin's commitment Co building its branded formulations business in the Philippines, which is a growth market for us. It also underlines Lupin's differentiated strategy for select markets and is a strategic step that will help us build and strengthen Our Philippines business. Since the brands are in-market, commercial products, our sales and marketing efforts will commence immediately and we ate optimistic of it contributing positively to our topline in the coming years.”
Lupin Ltd is an innovation led transnational pharmaceutical company producing a wide range of quality, affordable generic and branded formulations and API's.