Sun Pharma has announced its one of the subsidiary entering into an agreement and plan of merger with InSite Vision Inc. (InSite Vision). Under this agreement the subsidiary has offered to acquire InSite Vision. InSite Vision focuses on developing new specialty ophthalmic products, including three late stage programs.
Jerry St. Peter, Vice President and Head of Sun Pharmaâ€™s US Ophthalmic Business said InSite Vision will bring with it a pipeline of three latestage clinical candidates, validated drug delivery technology and a track record of achieving USFDA approval for ophthalmic products.â€
Kal Sundaram, CEO of Sun Pharmaâ€™s North American Business said â€œThis potential acquisition is a part of our overall objective of transitioning to a specialty company. Besides dermatology, we have identified ophthalmics as one of the key segments for establishing our branded presence in US.â€
Â Dr Reddyâ€™s Inks Commercialisation Deal with Hatchtech
Dr Reddyâ€™s Laboratories has signed a commercialisation deal with Hatchtech, an Australian pharmaceutical company for developing an innovative prescription head lice product, Xeglyze Lotion. The exclusive rights for this product are applicable for the territories of the United States, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela.
Hatchtech had announced that it will be filing its New Drug Application for Xeglyze with the US Food and Drug Administration (FDA). If approved, the product will be marketed in US by Promius Pharma.
As part of the agreement Dr Reddyâ€™s will pay Hatchtech an upfront amount of US$ 10 million, up to US$ 50 million based on pre commercialisation milestones and an undisclosed amount based on post commercialisation milestones, linked to achievement of annual net sales targets.
Pharmaceutical company GalaxoSmithKilne will be setting up Rs 1000 crore manufacturing unit in Vemgal, Karnataka, whose foundation stone was laid by Chief Minister Siddaramaiah in the presence of UKâ€™s Minister of State for Trade and Investment Francis Maude.
Siddaramaiah, Chief Minister of Karnataka said, â€œGlaxoSmithKline Pharmaceuticals Limitedâ€™s state-ofthe- art plant in Kolar district is yet another major investment by a multinational company in Karnataka which hopefully, will prompt other companies to come and invest in the State.â€
The unit is said to be operational by 2017, and will make more than eight billion tablets and one billion capsules in the areas of gastroenterology and anti-inflammatory medicines for the Indian market. The facility will be built on a 50- acre site in Vemgal, Karnataka. The factoryÂ is expected to employ of 300 people in the region once in operation.
Annaswamy Vaidheesh, Managing Director, GlaxoSmithKline Pharmaceuticals, India said, â€œGSK has been at the forefront of serving the healthcare needs of India for more than 90 years. We fully support the government in their efforts to increase access to affordable medicines to improve healthcare and we are very excited to begin work on what will become our largest manufacturing facility in India. With this new facility, GSK Pharma aim to further strengthen its commitment to helping the patients in India to improve their health and well-being.â€
The factory will be built in partnership with international and local design and construction companies. The facility will also include a warehouse, site infrastructure, employee welfare centre and utilities to support the manufacturing and packing of the medicines.