STADA inks pact with Hetero Drugs for oncology products

German drug-maker STADA Arzneimittel AG has signed a letter of intent with Indian pharma firm Hetero Drugs for establishing a joint venture to procure cancer treatment products.
"The planned cooperation initially calls for STADA to procure selected oncology products at attractive conditions. These relate to both existing products as well as new developments," it added.
An expansion of the cooperation into further areas is imaginable at a later point in time, STADA said.
Commenting on the development, STADA CEO Hartmut Retzlaff said: "Through a cooperation with Hetero, we could expand our product offering in areas in which we are not yet extensively represented. These include in a first step for example, selected oncology products."

STADA and Hetero Labs have been working together for a number of years, especially in the areas of active ingredient procurement and in-licensing, the company said.
"It is planned that STADA within the framework of a contractual joint venture will take over marketing exclusively in Europe and in a sub-license in further regions outside of India and the USA," it added.
Elaborating on the roadmap the partnership will take, Hetero Group Chairman B P S Reddy said: "Through this partnership with STADA, Hetero will provide a complete range of oncology products to European markets... We believe the collaboration will mutually benefit both companies.