Mumbai: Orchid Chemicals and Pharmaceutical has signed an agreement with Sweden-based bio-pharma company, Biovitrum, to undertake medicinal chemistry work. Under the agreement, the company would undertake medicinal chemistry work relating to certain drug discovery activities of Biovitrum, Orchid said in a filing with the Bombay Stock Exchange (BSE).
Orchid would initially provide medicinal chemistry services for certain drugs to Biovitrum for a six-month period and may extend this agreement into other therapeutic segments.
This is Orchid's second deal in drug research and development, following a pact with Pfizer International to provide long-term R&D services for animal health products.
Orchid is a globally recognised, integrated pharmaceutical company with core competencies in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms as well as in drug discovery.
Orchid has been investing aggressively for establishing modern research and manufacturing facilities aimed at global markets, thus emerging as a world-class pharmaceutical company covering the entire value chain - from discovery to delivery
Biovitrum is an integrated bio-pharma company with operations in drug discovery research, development, manufacturing and product sales.
One of the largest biopharma companies in Europe, Biovitrum has operations in Sweden and in the UK. Biovitrum conducts research and develops pharmaceuticals for unmet medical needs both for common diseases and conditions that affect smaller patient populations.
Biovitrum has a broad and balanced R&D portfolio with several projects in clinical and preclinical phases for the treatment of obesity, diabetes, inflammation and eye and blood diseases as well as a number of well defined niche indications.
The company develops and produces protein-based drugs on a contractual basis and markets a range of specialist pharmaceuticals, primarily in the Nordic countries. Biovitrum has revenues of about US$119 million and employs around 550 people. The company was listed on the Stockholm Stock Exchange on September 15, 2006.