20 June, 2005: GlaxoSmithkline (GSK) Pharmaceuticals Ltd has signed a co-promotion pact with Eisai Pharmaceuticals India to distribute Paritec in India. Paritec is a proton pump inhibitor discovered and developed by Eisai Co Ltd.
Paritec has global sales of $1.3 billion and the product is known as Pariet in Japan and Aciphex in US. In India, however, the product will be subject to competition from nearly 40 generic products.
The product is approved for the treatment of acid-related disorders like peptic ulcer and reflex gastric disorders (GERD). Eisai Co is amongst the top five research-based Japanese pharmaceutical companies in Japan.
It is the first Japanese pharmaceutical major to enter India through a 100 per cent subsidiary consequent to the enactment of Patent Act by the country.
Eisai Pharma is the Indian arm of Eisai Company of Japan. The subsidiary, based in Mumbai, was set up in 2004 with a capital of Rs 10 crore. Eisai has a joint venture with Wockhardt to market its product for treating nerve disorders in diabetes patients.
GlaxoSmithKline managing director S Kalyanasundaram said, "GSK has a strong presence in the gastro-intestinal market and enjoys immense goodwill among the medical fraternity on account of Zantac. In rabeprazole, we will have an excellent molecule that will effectively fulfill unmet patient needs and allow us offer a product in a high-growth market segment.”
"I am optimistic that Paritec will be a market leader in two to three years," he said. Though Glaxo hinted that Paritec may be priced higher than its Zantac, an anti-ulcer product, Kalyanasundaram said the new drug will have an affordable price tag for local customers.
He, However, refused to comment on the revenue-share agreement. Eisai vice-president (global pharmaceuticals business) Hideshi Honda said: "India is a growing market and we have decided to collaborate with GSK because of its large distribution network and capability to build brands".
"There are over 40 generics available, but we are committed to making Paritec a market leader in two to three years' time," Kalyanasundaram said.
Eisai also has a promotion deal with Indian drug-maker Wockhardt for Methycobal, a nerve disorder drug.
BY OUR PHARMA CORRESPONDENT