Financial Daily from THE HINDU group of publications
Friday, Mar 07, 2003
Financial Daily from THE HINDU group of publications Friday, Mar 07, 2003 |
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Marketing
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New Products & Services RPG Life to launch kidney drug in US Our Bureau
KOLKATA, March 6 RPG Life Sciences Ltd (RPGLS) is planning to enter the US generic drug market with its offering — cyclosporin — a drug used on kidney transplant patients. A release issued by the RPG group here said that the company is now in the process of getting approval for its patent and its formulation from the US authorities. For servicing the US market, RPGLS is also setting up a joint venture with an American company in Puerto Rico. Initially, the bulk drug would be supplied to the joint venture along with the supply of the patented formulation technology to enable local production of the drug. No further details were available on the new company. The product, which is a result of the company's foray into biotechnology, has been in the domestic market for nearly three years now under the brand name Arpimune ME. The company has on hand orders from Latin American countries for this drug — raising its hopes of generating business worth $25 million from this region, according to the release. Cyclosporin was actually the first product of the biotechnology segment of RPGLS and the interest generated by the drug in western markets has boosted the company's confidence of making this the largest contributor to RPGLS business which is split into three segments — domestic formulations, bulk drugs and global generics. The RPG group company, which shed its agro-chemicals business last year, reported a turnover of Rs 28.6 crore and a net loss of Rs 4.09 crore for the quarter ended December 2, 2002. The company, known earlier as Searle, produces this drug at its unit at Ankleswar in Gujarat. It has six international and eight Indian patents in its name.
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