Ranbaxy Laboratories has entered into a licensing agreement with South Korean firm Medy-Tox Inc for selling its cosmetic product, Neuronox, in India.
The company in a statement to the Bombay Stock Exchange said, it will launch Medy-Tox's anti-ageing medicine Neuronox in India to boost its presence in the dermatological segment.
Commenting on the development Sanjeev Dani, Sr Vice President and Regional Director, Ranbaxy, said, “Neuronox comes as a welcome alternative to dermatologists in India and we aim to make botulinum toxin therapy more accessible and affordable to people in the country.”
Ranbaxy scrip was trading at Rs 358, up 0.83 per cent on the Bombay Stock Exchange.
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