Ranbaxy signs product rights agreement with Biovel

Ranbaxy has announced the signing of a contract with Biovel, which will see the former firm access the product rights and use of the latter company’s manufacturing facilities.

Items that form part of the agreement include the Typhoid Vi antigen and Hib conjugate vaccines, for which Biovel has received regulatory approval.

Additionally, Biovel’s development pipeline, which constitutes a range of vaccines and biotherapeutics, is included in the contract.

“This transaction with Biovel provides us [with] an entry platform to manufacture vaccines as well as biotherapeutics. The vaccine and biotherapeutics business will be an important part of our growth strategy,” commented Atul Sobti, chief executive officer and managing director of Ranbaxy.

Pratap Reddy, the chairman of Biovel, said that Ranbaxy will be able to utilise its product pipeline to its full potential.

In November 2009, Ranbaxy revealed that the World Health Organization placed its generic anti-retroviral treatment Indinavir on its pre-qualification list.