Friday, May 27, 2005
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Staff Correspondent
MUMBAI: Signalling the entry of the Japanese into the Indian pharmaceutical sector, Eisai Pharmaceuticals India, a 100 per cent subsidiary of Eisai Co. Ltd. of Japan, on Thursday announced the signing of a co-promotion agreement with GlaxoSmithKline Pharmaceuticals (GSK) for Paritec in India. Paritec is a proton pump inhibitor (PPI) with the molecule being rabeprazole and was discovered and developed by Eisai Co. and is approved for the treatment of acid-related disorders such as peptic ulcer and reflux gastric disorders (GERD). Eisai is among the top five research-based Japanese pharma companies and is the first Japanese pharma major to enter India through a 100 per cent subsidiary consequent to the enactment of Patent Act by the country. Addressing the media here, S. Kalyanasundaram, Managing Director, GSK India, and Vice President, South Asia, GSK International, said, "GSK has a strong presence in the gastro-intestinal market and enjoys immense goodwill among the medical fraternity on account of Zantac. In rabeprazole, we will have an excellent molecule that will effectively fulfil unmet patient needs and allow us to offer a product in a high growth market segment." Hideshi Honda, executive officer and Vice President, Eisai Co., said, "India has expertise in process research and technological production. "It will be one of the clusters in the global pharmaceutical industry and so we have to have a presence here as soon as possible as it is important for Eisai's global activities. Mr. Kalyanasundaram said the company planned to bring the bulk drug rabeprazole from Japan to India and do the finished formulation here in spite of the fact that there were 40 generic versions of the product available at cheaper cost here. "The market for rabeprazole is now around Rs. 80 crore and for anti-ulcerants around Rs. 600 crore. We expect to become the market leader in the next two-three years."
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