Drug firm Lupin has entered into long-term partnership with Merck Serono, the biopharmaceutical division of Merck, for expansion in emerging markets.
As part of the agreement, Lupin will support Merck Serono in the implementation of its general medicines portfolio expansion initiative in emerging markets, the domestic drug maker said in a statement.
Mumbai-based Lupin will develop products, provide product dossiers and supply finished items to Merck Serono while the German firm will be the marketing authorisation holder for the products, and will leverage its strong commercial and medical teams in emerging markets to bring new medicines in its portfolio to customers, it added.
The drug major will receive upfront and milestone-based licensing fee as part of the agreement, it said.
"We look forward to working with Merck Serono leveraging our established world-class formulation development, manufacturing, supply chain and regulatory capabilities to produce a range of medications that meet local needs," Lupin Group President, Asia Pacific, Africa, Middle East & Latin America (AAMLA), Vinod Dhawan said.
This strategic partnership builds on the existing close collaboration between the two companies and adds up to 20 new products to the current portfolio, with the first launches expected in 2016, the company said.
As per the tie-up, Merck Serono will expand its overall portfolio in core therapeutic areas of general medicine and endocrinology franchise in selected countries in Latin America, Asia, Central Eastern Europe, and Africa.
"The collaboration will significantly strengthen our portfolio and Merck Serono's position as one of the major players in emerging markets, aiming to provide patients in these regions with better access to health," Merck Serono Head of Global Commercial Elcin Ergun said.
Sales in the emerging market regions are one of the key growth drivers for Darmstadt-based Merck Serono, amounting to close to 1.8 billion euro in 2013.
The partnership would cover major markets such as Brazil, Mexico, Indonesia, Philippines alongside several countries in Africa and Central Eastern Europe as well as other countries in emerging markets, focusing on cardiovascular and diabetes diseases.
Shares of Lupin closed 3.88 per cent down at Rs 1,359.85 apiece on the Bombay Stock Exchange (BSE).
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