Ranbaxy Laboratories Ltd on Tuesday entered into a co-marketing agreement with Switzerland-based Ferring International, a specialty biopharmaceutical company, for its product Desmopressin.
The product, a structural analogue of the pituitary hormone Arginine Vasopressin, is indicated in the treatment of Nocturia, a condition commonly seen in paediatric and geriatric patients.
The co-marketing arrangement aims to leverage the company's significant marketing and distribution strengths to maximise patient coverage within the country and the product will be sold under the brand name 'Adiuretin', the company informed the Bombay Stock Exchange.
"This is a strategic move by Ranbaxy to in-license differentiated products for the Indian Market. In a short span of 3 years Ranbaxy has become a leader in the urology segment and this agreement further helps to consolidate out position a provider of trusted, high quality medicines to the India Market", Ranbaxy Laboratories, Regional Director- India & Middle East, Sanjeev Dani said.