The Hyderabad based NATCO Pharma Limited (NSE : NATCOPHARM, BSE : 524816) is pleased announce a collaboration with the Pittisburgh based Mylan Inc.,(NYSE: MYL) for worldwide marketing and distribution of Glatiramer Acetate (sold as Copaxone R – a registered trade mark owned by Teva Pharmaceutical Industries Limited).
NATCO had signed a license and supply agreement today with Mylan for its (NATCO's) glatiramer acetate pre-filled syringes, a generic version of Teva's CopaxoneR, which is used to treat multiple sclerosis. The agreement grants Mylan exclusive distribution rights in the United States and all major markets in Europe, Australia, New Zealand, Japan and Canada, and includes an option to expand into additional territories.
NATCO has commercialized successfully its glatiramer acetate product in India and the Ukraine. Teva has reported that worldwide sales of CopaxoneR were more than US $1.7 billion in 2007.
"We are happy that we could conclude this agreement with Mylan to market and distribute glatiramer acetate in US and other countries," said Rajeev Nannapaneni, Director & Chief Opeating Officer of NATCO Pharma Limited. The agreement has been concluded after working with Mylan for several months. NATCO opines that Mylan’s strengths and its market presence would be just right for this product. NATCO’s inherent technical capabilities have enabled development of this generic product and NATCO expects that Mylan’s expertise in regulatory applications would enable this product to be available to the widest possible patient base.
NATCO Pharma Limited, which is one of the fastest growing pharmaceutical companies from India has made a mark for itself in introducing several first time generic drugs in India. This, coupled with its aggressive pricing strategies, especially in the oncological segment, made NATCO rank as # 1 in terms of revenues from among the Indian companies in the Oncological segment. NATCO has US FDA approved manufacturing facilities both for APIs as well as finished dosage pharmaceutical formulations.
Mylan Inc., with a presence in more than 90 countries, ranks among the leading diversified generic and specialty pharmaceutical companies in the world. The company maintains one of the industry's broadest -- and highest quality -- product portfolios, supported by a robust product pipeline; owns a controlling interest in the world's second largest active pharmaceutical ingredient manufacturer; and operates a specialty business focused on respiratory and allergy therapies.
Commenting on this collaboration, Mr. V.C. Nannapaneni, Chairman & Managing Director had said "We had spoken with several potential partners since we launched glatiramer last year, and, after an extensive review, we believe that no company is better positioned than Mylan to help us unlock the extraordinary value of this product in the United States and around the world. We are truly excited about our collaboration."