India-based Venus Remedies has signed a collaborative agreement with Teva Canada for an anti-cancer drug, which is under patent protection until 2016.
As part of the deal, the Venus Medicine Research Center will help Teva in registrations.
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The drug will be used to treat malignant pleural mesothelioma and nonsquamous non-small cell lung cancer, which is estimated to have a market of about $4bn.
It is expected to increase to $5.4bn by 2020 in the regulated markets of the US, France, Germany, Italy, Spain, the UK and Japan.
The company will also support Teva with its manufacturing capability to expand business in the Canadian market.
The GMP received by Venus for EU is also valid for Canada. This will allow Venus to use its infrastructure and regulatory competence to commercialise the drug in the Canadian market.
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By GlobalDataVenus Remedies joint managing director and Venus Medicine Research Center director Dr Manu Chaudhary said: "We are already in association with Teva for two Cephalosporins product business from EU market.
"Conclusion of the deal for Canada market has further strengthened our relationships, as well as widened the scope of our products. With this association, Venus will be penetrating Canadian market for the first time which will add another territory to VRL’s quest for quality services.
"TEVA will use Venus infrastructure and regulatory competence for commercialisation of this anti-cancer product in Canadian market."
According to Venus, the current global anti-cancer market is estimated to be around $130m with the share of $2.8bn of this drug.
