Date: 14-Feb-2020

Cipla unit inks agreement for anti-psychotic drug

Cipla Medpro South Africa (Pty) Ltd, a wholly-owned subsidiary of Cipla Ltd, India, has recently concluded an exclusive agreement securing originator and authorised generic brands of an atypical anti-psychotic drug Quetiapine. The agreement involves AstraZeneca Pharmaceuticals (Pty) Ltd, the originator of the medicine, and Luye Pharma Hong Kong Ltd, which acquired the assets and rights to the medicine in select territories. "The transaction allows Cipla Medpro to market and distribute the medicine in South Africa and neighbouring countries," a filing said on Monday. The existing portfolio consists of the originator brand Seroquel and the authorised generic brand Truvalin, medication which is used to treat mental health conditions such as schizophrenia, bipolar disorder, and major depressive disorder, it added. Paul Miller, chief executive officer of Cipla South Africa, said the agreement strategically enhances Cipla's portfolio.