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Adcock Ingram Critical Care to market Pharma-Q products in South Africa12/6/2016 11:28:17 AM
Adcock Ingram Critical Care to market Pharma-Q products in South Africa
In a deal that was signed on Friday 02 December, Adcock Ingram Critical Care (Pty) Ltd (AICC) has gained the commercial rights to the Pharma-Q (Pty) Ltd (Pharma-Q) range of products in South Africa. The deal, which involves the licensing of all Pharma-Q products to AICC, follows a long term relationship with Pharma-Q as a contract manufacturer to AICC.
The agreement, which is effective immediately, includes the licensing of all Pharma-Q marketed products, products awaiting registration with the Medicines Control Council as well as the pipeline of generic medicines coming through the Pharma-Q development channel. AICC will be the future applicant for all Pharma-Q products. Pharma-Q manufactures a comprehensive portfolio of injectables and a range of disinfectants, which will be the first products to be marketed by the new licensees.
‘As one of the few licensed sterile manufacturers in South Africa, Pharma-Q has a product range that complements our portfolio and commercial skills,’ said Colin Sheen, managing director of AICC. ‘This mutually beneficial deal will allow us to put our resources and expertise behind the business. The deal includes the distribution of all Pharma-Q products, which is another benefit of the transaction,’ he concluded.
The successful conclusion of the deal was marked by a signing ceremony at the Adcock Ingram head office in Midrand. Pharma-Q international and local shareholders joined the Adcock Ingram management team for the signing ceremony. The visitors included Pharma-Q shareholders: Messrs D.B.Siroya, chairman of Albasti Group of Dubai, Dilip Surana, managing director of Micro Labs Ltd Group, Haroon Kalla, director of Amka Group and the Pharma-Q management team.
‘We see this as being a mutually beneficial agreement and are delighted that it has come to fruition,’ said Mr Dilip Surana after the ceremony. ‘The deal will allow us to upgrade and expand our sterile facilities to world class standards with the assistance of the Industrial Development Corporation. The Pharma-Q business will thrive with this synergistic relationship. AICC is the best fit to take the commercialisation of our product portfolio forward. We have confidence in the AICC team as leaders in this field,’ he concluded.
As a licensing agreement, there is no transaction taking place. The companies will benefit by a profit share arrangement.[BACK TO ARTICLES]