Indian pharmaceutical major Cipla Ltd has acquired the brand name and trademark rights for Vysov and Vysov M (Vildagliptin and Metformin) of the anti-diabetic drug Vildagliptin for the local market from Novartis AG.
Mumbai-based Cipla said in a filing with stock exchanges on Monday that the company had noticed a strong uptake in the brand's performance in India.
The current market size of Vildagliptin in India is Rs 818 crore, Cipla said, citing data from healthcare research firm IQVIA. It did not disclose the financial details of the transaction.
Currently, the company has been co-marketing Vildagliptin in agreement with Novartis under the two brand names.
Cipla is the second Indian drugmaker to acquire the trademark rights for an anti-diabetic drug from Novartis this month. On December 4, Eris Lifesciences Ltd said it had acquired the trademark for anti-diabetic drug Zomelis for $13 million (Rs 92.9 crore) from Novartis for the Indian market. Zomelis is another brand for Vildagliptin.
Vildagliptin is an orally active, potent and selective inhibitor that acts on patients by enhancing certain pancreatic islet functions. The drug is widely prescribed as an anti-diabetic medicine for adults with type 2 diabetes mellitus, Cipla said.
“Owing to the increased affordability of Vildagliptin it is more accessible for better management of the disease. Cipla’s acquisition of the trademark rights of Vysov will enable us to contribute to easier access of the drug in India," said Nikhil Chopra, executive vice-president and head of India business.
The drugmaker was originally established in 1935. It says it focusses on a sustainable growth model, as well as complex generics and expanding its portfolio in markets such as India, South Africa and North America.
Earlier in July, Cipla formed a joint venture with Chinese firm Jiangsu Acebright Pharmaceutical Co. Ltd to make a fresh push into the Asian country.
The pharmaceuticals company also invested in new-age digital companies this year. Cipla acquired a 30% stake in South Africa's Brandmed (Pty.) Ltd to increase its exposure to the connected healthcare segment in April. In February, Cipla bought a stake in health-tech startup Wellthy Therapeutics Pvt. Ltd as part of a deal where the companies agreed to offer a digital disease management platform to patients in the cardio-metabolic segment.