Ajanta Pharma signs agreement with Orient Europharma of Taiwan to out licences product technology of its anti-scar product ‘Vaniza’
Ajanta Pharma, a Mumbai based pharmaceutical company with specialty products in dermatology, cardiology and ophthalmology, has entered into an agreement to out licence the technology of its anti-scar product ‘Vaniza’ to Orient Europharma of Taiwan. Orient Europharma is one of the leading pharmaceutical companies in Taiwan having registered sales of US$ 78.8 million in 2006 and listed on the Taiwan OTC market.
The markets of Taiwan, Macau, Hong Kong, Singapore and Malaysia will be covered by Orient Europharma. The product will be manufactured in Taiwan. The agreement provides for an upfront lump sum consideration and revenue sharing in the years ahead.
Ajanta Pharma is ranked amongst the top ten fastest growing companies in India by IMS. The exports of the company accounts for nearly 50% of it’s consolidated revenues of Rs.266 crores in FY07.
Ajanta Pharma is focusing on R&D and is developing new innovative ‘first to market’ pharmaceutical formulations in new drug delivery systems.