New Delhi: Drug major Lupin and US-based Salix Pharmaceuticals have entered into a definitive distribution agreement under which Salix has granted Lupin the exclusive right to market, distribute and sell certain Salix products in Canada.
In a BSE filing, Lupin said, "... They have entered into a definitive distribution agreement under which Salix has granted Lupin the exclusive right to market, distribute and sell certain Salix products in Canada."
Lupin will promote Salix products through its own sales force in Canada.
"Lupin is in the process of establishing its Canadian presence and the addition of this significant product portfolio opens up growth opportunities for the future," the company said.
Under the agreement, Lupin also has the option to exclusively market, distribute and sell other gastroenterology products in Salix's Canadian pipeline once approved by Health Canada.
On the other hand, Salix will receive an upfront payment and distribution fees, and is eligible for additional pre-commercial and sales milestone payments, Lupin said.
Salix will supply the products to Lupin under separate supply agreements.
The agreement includes immediate rights to distribute Zaxine tablets of 550 mg strength and Relistor Subcutaneous Injection. Additionally, the agreement includes future dosage forms, strengths, and indications for such products.
