India's Lupin in deal to market US firm Salix's drugs in Canada

Written by Reuters | Mumbai | Updated: Sep 12 2014, 21:37pm hrs
LupinLupin will get an upfront payment from Salix, and is entitled to additional payments contingent on meeting some sales milestones. (Thinkstock)
Lupin Ltd, India's fourth-largest drugmaker by sales, said it entered into an exclusive deal to market some of US firm Salix Pharmaceuticals Inc's products in Canada to expand its footprint in that region.

Lupin will get an upfront payment from Salix, and is entitled to additional payments contingent on meeting some sales milestones, the Mumbai-based company said in a statement.

Lupin, whose largest market is the United States, has the option to sell other gastroenterology products in Salix's pipeline after approval by Candian regulators.

The deal includes Salix's Relistor injection for the treatment of opioid-induced constipation, and Zaxine for use in adults to help reduce risk of recurrence of overt hepatic encephalopathy - a disorder that causes worsening of brain function.

Lupin's shares were up 3 percent at 1,360 rupees in Mumbai at 1004 GMT on Friday, while the main market was up 0.24 percent.