India-based Ranbaxy Pharmaceuticals has entered into an agreement with fellow Indian drugmaker Zenotech Laboratories to develop, submit for regulatory approval, and manufacture a total of 11 oncology products, which Ranbaxy will market as generic formulations in the U.S. and Canada. The total sale of these products could reach $3.7 billion, said Ranbaxy.
"This strategic initiative by RPI will establish our presence in this
therapeutic arena by offering a basket of products in the U.S. and Canadian
markets that has breadth and depth in the management of patients diagnosed with
cancer," said Dipak Chattraj, president of corporate development at Ranbaxy.
"Looking ahead, the company is committed and will maintain a high level
of visibility in the oncology segment. This agreement helps reinforce our position
as a provider of high quality generic medicines that will be available at affordable
prices."