AsianScientist (Sep. 3, 2011) – Sanofi-Aventis Philippines Inc., which is part of the Sanofi Group, and Multicare Pharmaceuticals (Multicare), the Philippines subsidiary of Lupin Limited, have entered into a marketing and distribution agreement.
Under the agreement, Multicare will market Sanofi-Aventis’s Central Nervous System (CNS) global brands, Solian® (Amisulpride) and Stilnox® (Zolpidem Hemitartrate) in the Philippines. The annual sales revenues of these brands are valued at PHP 138 million (US$3.27 million).
Solian® is the third largest selling atypical anti-psychotic agent in the Philippines for acute and chronic schizophrenia. Stilnox® is the 2nd largest selling drug for insomnia and sleep disorders in the country.
“We are delighted with this opportunity to expand our portfolio and market Sanofi’s leading brands, Solian® and Stilnox®. This coupled with our current CNS range and other differentiated products in our pipeline will propel us to emerge as a leading CNS player in the country,” said Romey Sy, President, Multicare.
Commenting on the same, Mr. Vinod Dhawan, President, AAMLA and Business Development, Lupin Limited said:
“The agreement demonstrates Lupin’s commitment to building its branded formulations business in the Philippines, which is a growth market for us. It also underlines Lupin’s differentiated strategy for select markets and is a strategic step that will help us build and strengthen our Philippines business.”
Headquartered in Mumbai, India, Lupin Limited is an innovation led transnational pharmaceutical company producing a wide range of quality, affordable generic and branded formulations and APIs.
In FY 2011, Lupin’s Philippines subsidiary, Multicare Pharmaceuticals recorded revenues of Philippine Peso 480 million (US$11.4 million) and registered growth of 25 percent.
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Source: Lupin Ltd.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.
