Cipla joins hands with Aspen for Australia foray
The partnership will provide Cipla a market-ready distribution network in Australia.
New Delhi, August 22, 2012: The Indian drug pharma major, Cipla is planning to partner with South Africa’s Aspen Pharmacare to cater to the Australian market. It has been learnt that under the pact, Cipla will develop generic products which will be marketed by Aspen in Australia.
As per the sources, the two companies are currently in the process of identifying products for commercialisation.
It is expected that Cipla will see a rise in its export revenue soon after the joint venture is operational. It is worth mentioning here that the Cipla has traditionally supplied low-cost generic drugs to foreign companies.
For Aspen, the partnership with Cipla follows a recent buyout of the over-the-counter and pharmaceutical divisions of Sigma Pharmaceuticals for US$ 800 million. It is expected that this deal will help Aspen augment its offerings and at the same time, keep its development costs low.
This partnership will give a quick access of the Australian market to Cipla.