South Africa's Aspen Pharmacare and Indian-based Lupin Ltd said on Monday they had agreed a 50-50 joint venture to develop, manufacture and globally market anti-tuberculosis (TB) drugs.
The venture will also investigate opportunities to enter the malaria market, the companies said in a statement which gave no financial details.
Lupin has traditional strengths in anti-TB formulations and active pharmaceutical ingredients, while Aspen has experience in the anti-retroviral (ARV) sector and an African presence, the companies said.
There is a global trend of bundling the treatments of infectious diseases, which include HIV/Aids, TB & Malaria, they added.
Statistics indicate that 8.6 million new TB cases are diagnosed annually. It is believed this only constitutes 70 per cent of infected cases with a greatly reduced percentage being treated, the companies said.
"The multi-drug resistant tuberculosis market is relatively small and is expected to grow exponentially over the next 4-5 years," the companies said.