AstraZeneca PLC announced a supply partnership with India's Torrent Pharmaceuticals on Thursday, its first tie-up with a generic drug maker as it seeks to boost its presence in emerging markets and counter patent losses on blockbuster medicines.
Under the deal, Torrent will supply AstraZeneca with a portfolio of 18 generic medicines, copies of previously patented medicines, which the Anglo-Swiss drug maker will then brand and market in nine countries.
Financial terms of the deal were not disclosed.
"In markets where consumers and physicians have a strong preference for trusted brands, we believe AstraZeneca<s long-standing reputation for quality is a sustainable competitive advantage," said Tony Zook, head of AstraZeneca's global commercial organization. "Working in partnership with Torrent will extend the range of branded medicines we can offer to patients in emerging markets, where we see continuing opportunities for our business to grow."