The Indian pharmaceutical company intends to launch around 20 products in the UK over the next 18 months.
Mumbai-based pharmaceutical company Indoco Remedies has signed a strategic distribution partnership with Bishop’s Stortford-based Clarity Pharma and plans to launch around 20 products in Britain over the next 18 months.
Indoco Remedies’ managing director Aditi Panandikar said that the deal was a “significant milestone” for the firm.
Founded in 1947 and with 11 factories across India, the company manufactures and markets pharmaceutical products across the fields of gastroenterology, dentistry and stomatology, respiratory, diabetology, women’s health, nutritional products, cardiology, metabolic disorders, and primary care medicines. The company has 6,000 employees and an annual turnover of around US$212 million (£168 million).
The deal with Clarity includes a full range of Indoco products.
In a statement, Steve Soper, chief executive of Clarity Pharm, said that the deal had taken several years to put together, but it would now deliver “significant savings” to the market.
Clarity Pharma says that it delivers generic and branded products to more than 1,800 dispensing doctors and 11,000 GPs and has access to more than 4,000 primary healthcare customers. Shares in Indoco initially spiked 10.25% to Rs355 (£3.31) on the BSE in Bombay as the news broke, but settled down to have risen 5.3%.
