Micro Labs launches new molecule under licensing agreement
EPP News Bureau – Bangalore
THE Bangalore based Rs 450 crore Micro Labs Ltd, one of the leading pharmaceutical companies in India, launched a new molecule in India for the management of IBS (Irritable bowel syndrome) called Fenoverine in collaboration with Eurodrug Laboratories of Belgium through licensing agreement for exclusive manufacturing and marketing of the product.
The product will be marketed under the brand name Spasmopriv and will be manufactured at Micro’s plant in Hosur. Micro also has the marketing rights for Nepal and Sri Lanka. Spasmopriv is a novel therapy in the management of IBS which acts by calcium modulation in the gastro intestinal smooth muscle and has an enhanced safety profile as compared to the current therapies available for IBS.
The drug is found to be effective in diarrhoea and constipation predominant IBS. Fenoverine is 100 mg capsules priced at Rs 59 per strip of 10 capsules. Under this agreement, Micro will launch the second molecule Metadoxil in the month of February next year which is now in the final stages of DCGI approval, G D Saini, vice-president, International Business Development of Micro Labs said while addressing the media.
The market for anti IBS is about Rs 60 crores of which Micro Labs is all set to corner a 10 per cent share in the next 12 months. Euro Drug will market Spasmopriv in Malaysia, Singapore, Thailand, Mexico, Columbia and Chili. To cash in on the strategy of product licensing agreement, Micro is in talks with four other companies.
Currently Micro’s licensing agreement extends to Euro Drug Laboratories for gastroenterological range and ISIS Laboratories, France for cosmotologicals. Micro and Euro are also planning to jointly set up a facility in Thailand for manufacturing and marketing.
Eurodrug with a turnover of about US $50 million has major presence in segments like urology, psychiatry, gynaecology, orthopeadics, gastroenterology, etc.
‘‘Product licensing, outsourcing formulations, outsourcing bulk drugs, product development, bio equivalence studies, clinical trials are some of the operations planned by Euro in India,’’ informed B Prabha Shankar, country manager, Euro Drug Labs.