Anglo-Swedish pharmaceutical giant AstraZeneca has signed a deal with India's Torrent Pharmaceuticals to brand and sell 18 of Torrent's generic drugs in emerging markets.
This marks the first such pact that AstraZeneca has ever signed with a generic drug manufacturer.
Without disclosing the financial terms of the deal, the London-based AstraZeneca said in a statement that Torrent will supply a portfolio of generic medicines for which it already has licenses in various countries to AstraZeneca.
AstraZeneca intends to brand and market these products from Torrent in many emerging markets, where it already has a strong commercial base.
Under the agreement AstraZeneca, which generated global revenues of $32.8 billion in 2009, will initially buy 18 drugs from Torrent and market them in nine countries.
The agreement allows the flexibility to add further products and new countries where AstraZeneca sees opportunities for growth.