GlaxoSmithKline Pharmaceuticals Ltd has signed a co-production agreement with Japanese drug maker Daiichi Sankyo Company Limited for the latter's anti-hypertensive drug Olmesartan Medoxomil and its combinations.
The agreement was signed between GlaxoSmithKline India Ltd and Daiichi Sanko India Pharma Ltd (DSIPL), a subsidiary of the Japanese pharmaceutical company.
The two companies will jointly promote the anti-hypertensive drug in India, according to a statement issued to the Bombay Stock Exchange.
The companies did not disclose financial details of the agreement.
"This agreement comes close on the heels of our in-licensing agreement for Micafungin last week. Our strategy as laid out at the beginning of the year of in-licensing products in specific high growth therapeutic areas is being rolled out and is well on track," GSK India managing director Hasit Joshipura said.
Olmesartan, with annual sales of $2 billion, is sold in more than 50 countries worldwide, the company said in the filing.
Daiichi Sankyo India is planning to bring many more research products to India in the future, its president V Vijayendran said.
GSK vice-president Ravi Limaye said Olmesartan will help their firm make a strong entry into the cardio-vascular therapeutic segment, which ''is the fastest growing segment in the country''.
Daiichi Sankyo also said it will launch joint sales of its Benitec, a drug for high-blood pressure, in India in June with GlaxoSmithKline.