Eli Lilly India has tied up with Lupin Ltd to promote and distribute Lilly's Huminsulin range of diabetes drug products.
Lupin India formulations business will promote and distribute the range of products in India and Nepal, which could double sales of the product in these markets, the companies said in a stock market filing.
The collaboration will double the customer base in India for Eli Lilly and the number of doctors called will rise to 45,000, the release said.
With an estimated 51 million diabetes patients in India, which is estimated to grow to 85 million by 2030, or one fifth of the global diabetic population, the partnership will yield rich dividends for the companies.
Lupin has a robust promotion and distribution set-up and a strong presence in various therapeutic areas, including the fast-growing diabetes market and the strategic tie-up will achieve major synergy for the two, the release said.
"As our highest priority, diabetes is a clear "must win" for Lilly's emerging markets," said Eberhard Ludewigs, vice president, emerging markets, Eli Lilly and Company. "This partnership will allow us to change our game in India. We will have a stronger footprint with more sales representatives promoting our diabetes business, not only for the current brands, but also for our future pipeline. Lupin is well aligned with Lilly's goal of expansion in India and other emerging markets," he added.
"With Lilly's presence and expansion in the emerging market space, the leadership team at Lupin feels strongly about the collaboration and the synergy it will create. We are pleased to be associated with Eli Lilly in India and this bears testimony to Lupin's existing market reach and will go a long way in strengthening our leadership position in the Indian diabetes market. We firmly believe that Lupin will bring tremendous value to this partnership based on our extensive experience and understanding of the Indian market. Our partnership is a significant step forward as both companies share the passion and commitment to make a meaningful difference to the quality of lives of patients with diabetes," Shakti Chakraborty, group president, India Region Formulations, Lupin Ltd, added.