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September, 2006 Pragati Maidan, New Delhi, India |
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Ipca buys cardio brand from Wyeth Labs.
Ipca Labarorories a Mumbai based pharma company has acquired Isordil, a cardiovascular brand, from the multinational Wyeth Laboratories. Isordil is a Rs2.4 million nitrate brand.
AK Jain, executive director (finance), Ipca laboratories told a leadng newspaper that the company had acquired Isordil to strengthen its cardiovascular portfolio. “We are a dominant player in the cardiovascular market. 28% of our domestic sales come from the cardiac products. While we have a large range of products, we do not have an angina product,” said Jain in an interview.
The company has gained all required rights and licenses and will manufacture the drug in its Silvassa unit. The company can market the product in India and Nepal. Isordil is a well know drug in the cardiovascular segment, though the market leaders in nitrates are Nicholas Piramal. Ipca plans to launch line extensions, like mononitrate and a combination of mononitrate with aspirin, in the domestic market. The company expects the brand to grow to Rs60 million in a year’s time.
Over 60% of the company’s turnover comes from exports. The company exports its products to over 100 counties the world over. The financial terms of this agreement between the two companies are still yet to be disclosed.
“The cardiovascular segment in India is estimated to be worth Rs2.3billion and is growing at a rate of 13%. This is way above the average industry growth rate and this makes the segment attractive.
Date: 09-Jan-2005
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