The agreement comes 18 months after India-based Aurobindo inked a deal licensing generic drugs to Pfizer. In both deals Aurobindo is using its capabilities to support big pharma efforts to offset losses from patent expiries through diversification into generics and emerging markets.
Entering into agreements with Aurobindo gives AstraZeneca access to a portfolio of generic products manufactured by the Indian company. Aurobindo believes its experience of collaborative relationships, as well as its product portfolio, helped it ink the deal with AstraZeneca.
PV Ramprasad Reddy, chairman of Aurobindo Pharma, said: “Aurobindo’s proven track record in building strong, collaborative working relationships is a key driver for these strategic agreements with AstraZeneca which will accelerate our growth plans and support our earnings.”
Products manufactured by Aurobindo will be branded and sold in emerging markets by AstraZeneca. The deal covers a number of products in “a broad range of important therapeutic segments, such as anti-infectives, cardiovascular system and central nervous system”.
Aurobindo manufacturers a number of products in these therapeutic areas, including treatments for Alzheimer’s, hypertension, Parkinson’s and insomnia. Details of specific products licensed to AstraZeneca have not been disclosed.
Kaushik Banerjee, head of branded generics operations at AstraZeneca, said the deal will extend the range of branded generic medicines the company sells in emerging markets. This is a sector where AstraZeneca sees continued opportunities to grow the business, said Banerjee.
Aurobindo published news of the AstraZeneca deal in a filing on the Bombay Stock Exchange . Financial details of the deal have not been disclosed.