Livemint: April 21, 2015
New Delhi: Drug maker Lupin Ltd on Monday said it has launched US-based Salix Pharmaceuticals Inc.’s Zaxine antibiotic in Canada, under a licensing agreement with that company.
Under the agreement, Lupin Pharma Canada Ltd has exclusive rights to sell the drug in Canada, Lupin said in a statement.
Zaxine—the brand name for rifaximin—is used to treat hepatic encephalopathy, a complication of cirrhosis of liver. It is used in long-term treatment for adults in 550mg doses.
Lupin will promote the product to hepatologists and gastroenterologists through its own sales people in Canada.
Lupin’s shares rose 0.70% on the BSE to touch Rs.1781.05 at 1.55pm, while the benchmark Sensex fell 1.11% to 28,127.47 points.
“We are very excited with the expansion of Lupin’s business into Canada given the opportunity we have, to create a Brand presence with the launch of Zaxine,” said Vinita Gupta, chief executive officer (CEO), Lupin Ltd.
Zaxine is Lupin’s first launch under the agreement with Salix announced in September. Under the agreement, Lupin has the option to exclusively market, distribute and sell other gastroenterology products in Salix’s Canadian portfolio.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.