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Hyderabad's Hetero Group enters UAE with new venture

Press Trust of India  |  Dubai 

The first phase of the collaboration will be distribution of Hetero's medicines in the UAE, Chairman of Hetero Group B P S Reddy said.

The group markets its products in 138 nations.

Reddy said in the first phase starting in January, Nexgen Pharma will distribute 21 products, more than doubling this to 50 products upon the completion of the registration process in the next two years.

"By 2016, Nexgen Pharma will be distributing 100 products," Reddy said.

Both pharmaceutical firms announced a joint venture agreement to form a distribution firm in the first phase of their partnership. The new entity will distribute Hyderabad-based Hetero's pharmaceuticals in the UAE.

The drugs to be distributed next year will include branded generics in various therapeutic segments such as gastroenterology, cardiovascular, neurology, antivirals, antiretrovirals and antihistamines.

First Published: Mon, November 26 2012. 12:05 IST