AstraZeneca Extends Branded Generics Capability With Torrent Agreement
11 March 2010
AstraZeneca today announced a license and supply agreement with Torrent Pharmaceuticals Ltd. Torrent will supply to AstraZeneca a portfolio of generic medicines for which Torrent already has licenses in a range of countries. Working in partnership with Torrent, AstraZeneca intends to brand and market these products in many of its emerging markets, where it already has a strong commercial footprint.
Under the agreement AstraZeneca will initially purchase from Torrent the licenses and market authorizations for 18 products in nine countries. The agreement allows the flexibility to add further products and new countries where AstraZeneca sees opportunities for growth. Financial terms were not disclosed.
Torrent will manufacture the medicines working to AstraZeneca's rigorous quality and process standards. Based in India, Torrent has been manufacturing medicines for over thirty years and has a strong track record in registering and manufacturing a wide range of products.
The emerging markets are forecast to contribute around 70 per cent of pharmaceutical industry growth in the next five years, and branded generics represent approximately 50 per cent by value in these emerging markets. AstraZeneca believes it can capitalise on this opportunity and over time plans to broaden its portfolio beyond these initial 18 products.
In recent years AstraZeneca has invested significantly in key emerging markets, and has built a strong presence in many of them. Expanding the company's branded generics portfolio will help to leverage its established sales and marketing presence in these countries.
Tony Zook, head of AstraZeneca's global commercial organisation, said: "In markets where consumers and physicians have a strong preference for trusted brands, we believe AstraZeneca's long-standing reputation for quality is a sustainable competitive advantage. Working in partnership with Torrent will extend the range of branded medicines we can offer to patients in emerging markets, where we see continuing opportunities for our business to grow.
"We have chosen Torrent because of their complementary product portfolio and proven ability to manufacture to AstraZeneca's high quality standards."
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NOTES TO EDITORS
About Torrent Pharma
Torrent Pharmaceuticals Limited is a leading Indian pharmaceutical company which has been manufacturing medicines for over thirty years. It currently produces and supplies its products into more than 50 countries.
It has two large manufacturing plants. At Chhatral it has capacity to manufacture approximately 3,000 million tablets, capsules and vials and 20,000 kgs of active pharmaceutical ingredient. The manufacturing plant at Baddi has a capacity to manufacture 3,600 million tablets, 150 million capsules, 10 million Oral Liquid bottles and 12 million sachets per annum. Both its facilities have regulatory approvals in accordance with international quality control standards.
Torrent's R&D Centre in Gujarat has a team of over 600 scientists who offer dedicated services in the areas of Discovery Research, Generic Drug Development and New Drug Delivery Systems/Value Added Generics.
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009. For more information please visit: www.astrazeneca.com
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