AstraZeneca Close to Second Indian Drugs Deal
AstraZeneca plans to sign a second deal with an Indian generic drugmaker -- this time for the supply of injectable drugs -- in a further move to boost its emerging market sales, an Indian publication said on Thursday.
DNA Money said the London-based group was close to signing a licensing and supply agreement with Ahmedabad-based Intas Pharmaceuticals, citing two people familiar with the development. An AstraZeneca spokesman in London said the company did not comment on deal rumours.
AstraZeneca struck a similar branded generics supply deal with India's Torrent Pharmaceuticals in March and the Anglo-Swedish company said at the time other deals could follow. Emerging markets are a priority area for Western drug companies, as sales in home markets stall and cheap off-patent medicines that can be sold in high volumes under a multinational brand name are an attractive target. AstraZeneca expects emerging markets to account for 25% of group sales by 2014, up from 13%, or $4.35 billion, in 2009.
