Natco Pharma today said it has entered into an agreement with US-based Watson Pharmaceuticals to develop and market generic lenalidomide tablets, used in treating cancer, in the American market.
"Natco Pharma and Watson Pharmaceuticals today confirmed an exclusive US development and license agreement to develop and commercialise lenalidomide", the company said in a filing to the Bombay Stock Exchange (BSE).
Under the agreement, both the companies would share net profit on sales. Also, the US firm would be responsible for regulatory, legal and commercial expenses related to lenalidomide tablets.
The drug is indicated in treatment of multiple myeloma, it said.
The Hyderabad-based firm has filed an abbreviated new drug application (ANDA) with US health regulator, seeking its approval to market Lenalidomide in the strengths of 5 mg, 10 mg, 15 mg and 25 mg, it added.
Natco's lenalidomide tablets are generic versions of Revlimid tablets, the patent of which is with Celgene, it said.
Revlimid reported global sale of nearly $2.3 billion last year, it added.
The company today said it believes it may be the first to file ANDA for Lenalidomide in the strengths of 5 mg, 10 mg, 15 mg and 25 mg and if approved will entail it to 180 days of market exclusivity.
Natco Pharma scrip was today trading at Rs 326.30 at the BSE in the afternoon trade, down 0.75 per cent from its previous close.