Pharmaceuticals firm Cipla on Thursday announced an agreement with Serum Institute of India (SII) for distribution of paediatric vaccines in Europe.
As per the agreement, Serum Institute of India (SII) will develop and manufacture paediatric vaccines and Cipla will seek European Medicines Agency approval and market the products in Europe, the company said in a statement.
"This collaboration with SII enables Cipla to enter into the vaccines segment," it said.
Commenting on the agreement, Cipla MD and Global CEO Subhanu Saxena said the Europe-specific partnership with SII is aligned with its commitment to access to affordable paediatric healthcare.
"Through this partnership, we look forward to contribute in eradication of childhood diseases," Saxena said.
Sharing his thoughts, SII CEO and Executive Director Adar Poonawalla said: "Serum Institute believes that this tie-up with Cipla is a perfect platform for making vaccines available for Europeans as Serum also shares the common philosophy of Cipla of making vaccines/pharmaceutical products available at the most affordable prices."
Cipla has, in the past six months, strengthened its presence in Europe and launched respiratory products such as Salmeterol/Fluticasone in Germany, Sweden, Czech Republic, Slovakia and Croatia.
In July, it had signed an exclusive partnership with BioQuiddity to market OneDoseReadyfusOR in regional anaesthetic applications for post surgical pain management.
Shares of Cipla ltd were trading at Rs 612.50 per scrip in the afternoon trade, up 2.21 per cent from the previous close on the Bombay Stock Exchange (BSE).