Global pharmaceutical major Sanofi has entered into a marketing and distribution agreement with Emcure Pharmaceuticals (Emcure) for its oncology portfolio in India, as per a company release.
Sanofi is a global healthcare firm with core strength in the fields such as diabetes solutions, human vaccines and animal health.
According to the agreement, while Sanofi will continue to own its oncology range - comprising four brands namely Taxotere, Jevtana, Fludara and Fasturtec; Emcure will market and distribute these brands through its Specialty Unit.
Shailesh Ayyangar, vice president-South Asia and managing director, Sanofi India Limited and Sanofi – Synthelabo (India) Limited, said, “Realising that managing the complexities of cancer necessitates the availability of a wide range of products and supporting therapies, we found that combining our efforts and product range with that of Emcure Oncology, makes immense sense for both companies.”
In India, Sanofi operates through five entities − Sanofi India Limited (previously known as Aventis Pharma Limited), Sanofi-Synthelabo (India) Limited, Sanofi Pasteur India Private Limited, Shantha Biotechnics Limited and Genzyme India Private Limited.
Satish Mehta, managing director, Emcure Pharmaceuticals, said, “We believe that the coming together of Sanofi’s innovative oncology range with Emcure’s oncology portfolio empowers us to provide an even wider array of value driven healthcare solutions. We are extremely optimistic about its prospects and committed to creating a long-term partnership with Sanofi.”
As first reported by VCCircle, Pune-based Emcure pulled out its proposed initial public offer (IPO) which was to raise around Rs 300 crore besides giving part exit to Blackstone in its maiden investment in India. This follows a deal struck late last year where Blackstone sold its stake to Bain Capital for an undisclosed amount.
Bain Capital’s entry took care of immediate capital requirements besides providing liquidity to the previous investor. Blackstone had invested Rs 226 crore in Emcure through convertible shares and held 13.09 per cent stake.
Emcure is ranked among the top 15 pharmaceutical companies in India in terms of market share based on the domestic sales of pharma products. It is ranked much higher in the therapeutic areas in which it operates. These areas include cardiology, pain and analgesics, HIV, gynecology, nephrology, anti-infective, and vitamins, minerals and nutrients.
(Edited by Joby Puthuparampil Johnson)