Ranbaxy will launch botulinum toxin derived anti-ageing drug Neuronox from Medi-Tox Inc in India.
Ranbaxy Laboratories Ltd entered into an in-licensing agreement with South Korean firm Medy-Tox Inc for selling a cosmetic product Neuronox in India.
Neuronox is Medi-Tox’s new alternative brand of purified botulinum toxin type –A.
Neuronox is considered one of the effective ant-aging medicine derived from botulin toxin. The cosmetic use of botulinum toxin type- A in the correction of facial wrinkles and excessive sweating (hyperhidrosis), has rapidly become one of the most popular cosmetic procedures worldwide.
Therapeutic equivalence and clinical trials conducted by Medy-Tox in various countries across the world, have confirmed the efficacy and safety of Neuronox, Ranbaxy said in a press release.
The current market size for Neuronox, in India, is approximately Rs. 30 crores, per annum, with only one other player in the market apart from Ranbaxy.
“Neuronox comes as a welcome alternative to dermatologists in India and we aim to make botulinum toxin therapy more accessible and affordable to people in the country,” stated Sanjeev Dani, senior vice President & regional director – Asia & CIS, Ranbaxy.
Neuronox’ introduction is expected to strengthen Ranbaxy’s presence in the dermatological segment, said the company statement.
Medy-Tox Inc is South Korea’s largest botulinum –toxin specialized biotech venture. Medy-Tox has over 20 years of specialized research in Clostridium Botulinum toxins and related products. Botulinum toxin-related pharmaceuticals and antibodies researched by Medy-Tox are today available in more than 30 countries across the world including some of the most developed and regulated market like Japan.
Ranbaxy, in which Japan’s Daiichi Sankyo owns about 64 percent, posted losses for the fifth straight quarter.
Ranbaxy’s sales in the US, the world’s largest drug market, also dropped 14 percent.
Ranbaxy Laboratories Ltd reported net loss of 7.78 billion rupees ($156 million) in its fiscal first quarter ended March 2009, compared with a profit of 1.03 billion rupees in the year-ago quarter.
Ranbaxy Laboratories Ltd also said it anticipated a loss of $150 million on sales of $1.4 billion in the year ending December 2009.
Ranbaxy’s sales in North America, which accounts for about 27 percent of Ranbaxy’s revenue, fell 7 percent to 4.04 billion rupees in the fourth quarter of financial year 2008-2009. Sales in the U.S. declined to 3.4 billion rupees. Ranbaxy also said sales dropped 14 percent in Europe, and gained 9 percent in India.
Ranbaxy reported 9.19 billion rupees as losses on foreign-currency options before tax. The company also wrote down the value of convertible bonds due 2011 as the Indian currency weakened 3.9 percent against the dollar in the three- month period, its fifth straight quarterly decline.
Ranbaxy Pharmaceuticals Inc, a wholly-owned subsidiary of RanbaxY India has been recently selected by Validus Pharmaceuticals LLC as its marketing partner for distributing an authorized generic version of calcitriol in both softgel capsules and an oral liquid formulation in US.
Calcitriol is a synthetic vitamin D analog. Calcitriol is currently marketed by Roche in the brand name Rocaltrol in US. Rocalcitrol softgel capsules and oral liquid are having a market size of $70 million, as per IMS – MAT, June 2009.
Recently, Ranbaxy recalled one batch of its acne drug Sotret (isotretinoin) from the US market, following US FDA recommendation. Sotret Isotretinoin is used for treating skin infections including acne.