Cipla Medpro South Africa (Pty) Ltd, a wholly-owned subsidiary of Cipla Ltd, India, has recently concluded an exclusive agreement securing originator and authorised generic brands of an atypical anti-psychotic drug Quetiapine.
The agreement involves AstraZeneca Pharmaceuticals (Pty) Ltd, the originator of the medicine, and Luye Pharma Hong Kong Ltd, which acquired the assets and rights to the medicine in select territories.
"The transaction allows Cipla Medpro to market and distribute the medicine in South Africa and neighbouring countries," a filing said on Monday.
The existing portfolio consists of the originator brand Seroquel and the authorised generic brand Truvalin, medication which is used to treat mental health conditions such as schizophrenia, bipolar disorder, and major depressive disorder, it added.
Paul Miller, chief executive officer of Cipla South Africa, said the agreement strategically enhances Cipla's Central Nervous System portfolio.
"This transaction will help ensure that people have access to affordable and quality medicine that will help improve quality of life for people living with these conditions," he added.
This partnership amplifies Cipla's growing intent to partner with innovator companies and this is a further demonstration of our core competence in building and growing originator brands, ably strengthened by strong corporate governance and quality mindset, Miller said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)