AstraZeneca has forged a licence and supply agreement with India’s Torrent Pharmaceuticals to supply a variety of generic medicines in a number of emerging markets.
Under the agreement AstraZeneca will initially purchase the licences and market authorisations for 18 products in nine countries from Torrent. The agreement also allows flexibility to add further products and new countries.
Financial terms were not disclosed.
AstraZeneca global commercial organisation head Tony Zook said that working in partnership with Torrent will extend the range of branded medicines the company can offer to patients in emerging markets.
“We have chosen Torrent because of its complementary product portfolio and proven ability to manufacture to AstraZeneca’s high quality standards,” Zook said.
Emerging markets are forecast to contribute around 70% of pharmaceutical industry growth in the next five years, with branded generics representing approximately 50% of this total.