Company Watch

Ethypharm announces out-licensing deal

Our News Bureau - Mumbai

Ethypharm, a French multinational drug delivery company, announced the finalisation and signing of a new out-licensing and supply contract for the Colombian market with Euroetika, a leading Colombian drug company. Its owned subsidiary, Ethypharm LL India, will supply the products.

The Colombian market is growing at (approx) 12 percent from $1.3 billion approximately in 2004. According to Ajey Kumar, Chief Executive Officer of Ethypharm LL India, "This deal would consolidate Ethypharm's already significant presence in the South and Latin American markets."

The deal has been made for three products, Tizanidine Sustained Release, a skeletal muscle relaxant; Metaclopramide Sustained Release, an antiemetic and Levocetirizine Orodispersible tablets, an anti-histamine agent. The products would be supplied from Ethypharm's manufacturing facility near Mumbai as penultimate stage bulk formulations and converted to finished formulations in Colombia under technical supervision of Ethypharm.