Bangalore based pharmaceutical firm Strides Arcolab today said its Canadian subsidiary Agila Specialties Pharma Corp has formed a joint venture with Jamp Pharma to introduce injectable generic drugs in Canada.
The sales and marketing joint venture will operate under the name Agila-Jamp Canada Inc, in which Agila will hold 70% stake and the remaining 30% will be with Jamp Pharma, the company said in a statement.
The JV will be headquartered in Boucherville, Quebec.
Agila-Jamp will launch around 40 products in the next two years.
"Many of these products have already been approved by Health Canada and will be immediately launched through local hospitals and pharmacists," it said.
The existing sales force at Jamp Pharma will be responsible for introducing the entire Agila-Jamp product portfolio, the statement added.
Agila is the specialties business of Strides Arcolab. It has nine manufacturing facilities in different parts of the globe, including one in India. The firm's marketing network covers 70 countries.
Jamp Pharma Corp is a privately held Canadian company that specialises in development, distribution and marketing of branded generic drugs and non-prescription products.
Scrips of Strides Arcolab were trading at Rs 756 per share in the afternoon trade, up 2.43% from the previous close on BSE.