Jubilant Organosys Ltd, headquartered in India, announced that its subsidiary Draximage Ltd has signed an agreement with France-based Guerbet for the distribution of its nuclear medicine products in Europe.
Draximage specializes in radiopharmaceuticals business and Guerbet is a leading medical imaging player in Europe. The partnership agreement will provide a springboard to Draximage to extend the reach of its nuclear medicine products in the European markets including Germany, France, UK, Italy and Spain.
With this partnership Guerbet will become the exclusive distributor for the sale of Draximage range of products including, Sestamibi, I-131, MDP DTPA and MAA, through its network of European subsidiaries.
This will facilitate easy availability of these nuclear medicines which are much in demand by the medical professionals in the imaging market due to the rapid development of hybrid technologies (nuclear medicine and MRI, nuclear medicine and scanners).
Commenting on the development, Shyam S Bhartia, chairman & managing director and Hari S Bhartia, co-chairman & managing director of Jubilant Organosys Ltd said, "This is in line with our strategy to expand our specialty pharmaceuticals business in the regulated markets. The partnership with a strong player in Europe demonstrates our commitment to enter into the attractive, regulated, high growth and high margin radiopharmaceutical business, and will enable us to gain rapid market share."
"This partnership provides an excellent opportunity for growth in Europe. Guerbet's expertise, commercial energy and strong penetration in the X-ray and MRI segments will provide Draximage an opportunity to accelerate its development in these new European markets," expressed Jean-Pierre Robert, CEO, Draximage Business.
With this agreement, Guerbet strengthens its offering by expanding into nuclear medicine, a technology for diagnostic and therapeutic imaging that offers a highly complementary fit with the x-ray and MRI lines.
"This constitutes a first step for Guerbet in the field of nuclear medicine. Nuclear medicine is a high utility technology providing complementary capabilities for the diagnosis and staging of cancers. It offers considerable benefits for monitoring cardiovascular and metabolic illnesses. Given its experience in nuclear medicine, excellent reputation and pipeline, Draximage represents an ideal partner for Guerbet. This partnership will provide a promising growth driver for our continued development in the years ahead," commented Philippe Decazes, chairman of the executive Committee of Guerbet.
Nuclear medicine is a medical specialty that studies the functioning of organs through the use of radioactive agents for diagnostic purposes. It is particularly well adapted for the diagnosis of cancers and cardiovascular illnesses.
This agreement will enable Draximage, a Jubilant Organosys company, to develop the geographical coverage of its products by partnering with a major European imaging specialist with key positions in the x-ray segment and the European leader for MRI with Dotarem.