In an effort to grab a big chunk of the Rs 2,000-crore domestic dermatological drug market, Ranbaxy Labs Ltd has begun the year 2010 by bringing an anti-fungal chemical entity Lulifin (Luliconazole) to the domestic market. This follows a strategic in-licensing agreement with Summit Pharmaceuticals International Corporation (SPI), Japan, allowing Ranbaxy, exclusive marketing rights for the Indian market. The drug firm would be manufacturing the product in India under licence from SPI, Japan.
Ranbaxy, since the last few years, has been quite keen in strengthening its presence in the dermatology market with products such as Zole-F, Minoz, Suncros, Fucidin and Teczine, among others. ?Dermatology is one of the top priority therapeutic area for us and we are pleased to introduce Lulifin in the Indian market,? Ranbaxy senior vice-president and regional director ? Asia, CIS & Africa ? Sanjeev Dani said. He further added, ?It is well recognised that in the post-patent era, licensing would be the key strategy to bringing new chemical entities to India.?
Luliconazole was invented by Nihon Nohyaku Co Ltd and was approved and launched in Japan in 2005. Based on SPI?s licensing know-how and strong network abroad, SPI in-licensed the rights for Luliconazole in certain territories from Nihon Nohyaku, to expand its reach in overseas markets. In India, SPI has entered into a licensing agreement with Ranbaxy to market the product exclusively.
On Monday Ranbaxy’s shares closed down 0.12% at Rs 516.85 on the BSE. Lulifin is a topical imidazole and is used in curing Cutaneous mycoses caused by Tinea pedis, Tinea corporis, Tinea cruris.