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However, AstraZeneca will retain the intellectual property rights to budesonide and formoterol fumarate dihydrate (inhaled corticosteroid (ICS) and long-acting beta-agonist (LABA) combination) and will continue to be the marketing authorisation holder (MAH) and import license.
According to agreement Mankind Pharma will distribute and promote the product Symbicort for a period of 5 years in India. It will also pay Rs 15 crore to AstraZeneca, as per the distribution and promotion agreement.
Dr. Sanjeev Panchal, managing director and country president of AstraZeneca India said, “The partnership with Mankind Pharma presents an opportunity to accelerate access and maximize the potential of our asthma drug as well as the turbuhaler which is a simple device, efficient in consistently delivering a higher proportion of respirable particles than the other devices.”
Atish Majumdar, senior president of sales & marketing at Mankind Pharma said, “We are excited to partner with AstraZeneca to make their innovative therapy flagship brand Symbicort, a global standard in treating Asthma. Symbicort's dual mechanism of action and ease of use in a single inhaler can greatly help patients manage these conditions and improve their quality of life. Through our field forces’ extensive outreach, we hope to strengthen access across urban and rural markets.”
AstraZeneca Pharma India is engaged in the business of manufacture, distribution and marketing of pharmaceutical products and also provides clinical trial services to an overseas group company.
Mankind Pharma is engaged in manufacturing of pharmaceutical formulations. The company is one of the leading manufacturers of prescription medicines.
Shares of AstraZeneca Pharma India declined 1.25% to Rs 5,286.10 while Mankind Pharma slipped 0.53% to Rs 2,150.75 on the BSE.
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