Abbott strikes emerging markets deal
pharmafile | May 12, 2010 | News story | Sales and Marketing | Abbott, Zydus Cadila, em
Abbott is seeking to extend its reach into emerging markets with a new collaboration with India-based pharma company Zydus Cadila.
Abbott will commercialise 24 of Zydus’s pharma products in 15 high-growth emerging markets, which the company says will “further accelerate its emerging markets growth”.
The agreement also includes an option to add into the deal more than 40 further Zydus products.
The collaboration includes medicines for pain, cancer and cardiovascular, neurological and respiratory diseases and product launches are set to begin in early 2012.
“We have always believed in working with partners for win-win alliances that look at new opportunities for growth and expansion,” said Zydus Cadila’s chairman and managing director Pankaj Patel.
“In this alliance we see tremendous opportunity to participate in multiple ways in a market that is growing and expanding rapidly. Building on our mutual strengths we are creating a considerable competitive advantage for value creation for both partners over the long term.”
The financial terms of the agreement were not disclosed.
New Established Products Division
To further its emerging markets footprint Abbott has also created a new Established Products Division. This will concentrate on marketing the company’s established products portfolio outside the US, with a particular focus on accelerating growth in emerging markets.
Olivier Bouhon, executive vice president of Abbott’s pharma products group, said: “Our new Division, with $5 billion in sales, will focus on expanding our presence and product offerings in the world’s fastest-growing emerging markets.”
In 2007, Abbott established a separate business unit within its international division dedicated to established products. Most recently, the company acquired Solvay Pharmaceuticals, a move that gave it access to a more diverse branded generics portfolio and a further gateway into emerging markets.
The company says these changes have already recalibrated its pharma sales – approximately 20% of which now come from emerging markets.
Ben Adams
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