Drug major Cipla on Monday said it has acquired brand name and trademark rights for Vysov and Vysov M of the anti-diabetic drug, Vildagliptin for the Indian market. The pharma firm, however, didn't disclose the financial transaction involved in the deal.
"The company has been co-marketing Vildagliptin in agreement with Novartis under brand names Vysov and Vysov M (Vildagliptin plus Metformin)," Cipla said in a filing to the Bombay Stock Exchange.
The drug has witnessed a strong uptake in India for the last couple of years and are currently available across the country, Cipla added.
Commenting on the development, Cipla Executive Vice-President & Head India Business Nikhil Chopra said, "Owing to the increased affordability of Vildagliptin it is more accessible for better management of the disease. Cipla's acquisition of the trademark rights of Vysov will enable us to contribute to easier access of the drug in India."
Vildagliptin is an orally active, potent and selective DPP-4 inhibitor that improves glycemic control in patients primarily by enhancing pancreatic islet functions. The drug is backed by strong clinical data and is therefore a widely prescribed anti-diabetic medicine for adults with type 2 diabetes mellitus.
The current market size of Vildagliptin is Rs 818 crore as per IQVIA MAT data of November 2019 in India.
Ahead of the announcement, shares of Cipla closed Monday's trade at Rs 458.60, down 0.60 per cent, on the BSE.
Edited by Chitranjan Kumar