New Delhi: Drug maker Ranbaxy Laboratories and its parent firm Daiichi Sankyo Tuesday said they have entered into a partnership to distribute the Japanese firm's products in Italy.
"Ranbaxy Italia SpA and Daiichi Sankyo, Italia SpA on Tuesday announced a partnership to leverage Ranbaxy's distribution strengths and extensive relationships with pharmacists across Italy, for the distribution of Daiichi Sankyo products," Ranbaxy said in a statement.
To start with, Ranbaxy will exclusively distribute two of Daiichi Sankyo's long established brands, Congescor and Lopresor - to all pharmacies in Italy, it added. The drugs are extensively used in Italy for the treatment of congestive heart failure and hypertension.
As per the IMS Health data, the total annual retail sales of Congescor and Lopresor in Italy stood at around 20 million euros, the company said.
Commenting on the development Ranbaxy Italia SpA Managing Director Neeraj Sharma said: "Ranbaxy will use its extensive sales force network to ensure adequate retail presence for Congescor and Lopresor and provide Daiichi Sankyo
with direct access to the pharmacists, who are important stakeholders, in the pharmaceutical value chain."
Daiichi Sankyo Italia, through its dedicated team of medical representatives, will continue to take care of the physicians, mainly cardiologists and internists, promoting the two products, it said.
"The partnership extends our product reach and brings together the strength and the market equity of the Daiichi Sankyo brands, combining these aspects, with the strong pharmacy sales and distribution network of Ranbaxy, for mutual advantage," Daiichi Sankyo Italia SpA Managing Director Antonino Reale said.
Ranbaxy Italia has a sales team comprising 65 sales representatives and has a portfolio of about 60 generic products. It also has a dedicated customer base of almost 3,000 pharmacies across the country.
Daiichi Sankyo Italia markets about 15 products primarily in the field of cardiovascular therapies in Italy.
Ranbaxy became a part of the Daiichi Sankyo Group in 2008 after Japan's third largest drug-maker bought a majority stake for Rs 22,000 crore.
Shares of Ranbaxy laboratories today closed at Rs 516.25 on the BSE, up 0.56 from their previous close.