Ajanta Pharma, an Indian pharma company has entered into an agreement to out licence the technology of its anti-scar product 'Vaniza' to Orient Europharma of Taiwan. The agreement provides for an upfront lump sum consideration and revenue sharing in the years ahead.
Under the agreement, Ajanta Pharma will transfer the technology of the product to Orient Europharma for the markets of Taiwan, Macau, Hong Kong, Singapore and Malaysia. Orient Europharma will manufacture the product in Taiwan and production is expected to start shortly.
Ajanta Pharma is a well-established pharmaceutical company with specialty products in dermatology, cardiology and ophthalmology and has been ranked by IMS amongst the top 10 fastest growing pharmaceutical companies in India. Exports accounted for nearly 50% of Ajanta's consolidated revenues of Rs.266 crore (US $ 64.74 million) in FY07. While Orient Europharma is one of the leading pharmaceutical companies in Taiwan and listed on the Taiwan OTC market has registered sales of US$ 78.8 million in 2006.
Ajanta Pharma is now focusing strongly on R&D and is engaged in developing new innovative 'first to market' pharmaceutical formulations through R&D efforts in new drug delivery systems.