Lupin signs agreement with Aptissen S.A.
Lupin Limited has announced that it has entered into a definitive distribution agreement with Aptissen S.A. Under this agreement, Aptissen has granted Lupin with the exclusive rights to market, distribute and sell the current Aptissen products in Canada.
Lupin will have the immediate rights to distribute Synolis VA (Visco-Antalgic) for the treatment of osteoarthritis. As per data available with Statistics Canada, osteoarthritis affects more than 10 per cent of Canadians aged 15 or older.
Synolis VA is the intra-articular injection for osteoarthritis having a unique combination of Hyaluronic Acid and high concentration of Sorbitol. The product is already approved by Health Canada and additional strength is currently under review.
With this partnership, Lupin will have an opportunity to expand its portfolio in the Canadian market. It will also allow easy access to speciality medicines in the market.
Aptissen S.A. is a Swiss company based in the Geneva area, Switzerland and is specialized in the development and commercialization of biopolymer-based medical devices.
On Thursday, the stock of Lupin opened at Rs. 847 per share. During the morning session, it up by 1.2 per cent and touched Rs. 861 level.