Zydus Lifesciences Signs Pact With US-Based Viwit Pharmaceuticals For Two MRI Injectables
Viwit will handle manufacturing and supply of the injectables, while Zydus Lifesciences will "exclusively market, distribute" and sell them.
Zydus Lifesciences Ltd. on Friday announced a pact with US-based Viwit Pharmaceuticals for two MRI injectables and contrast agents.
Viwit has signed the "exclusive licensing and supply agreement" with Zydus Lifesciences Global FZE, which is a wholly-owned subsidiary of the India-headquartered parent company, a release said.
The pact has been inked for gadobutrol injection, a generic version of Gadavist; and gadoterate meglumine injection, which will be the generic substitute for Dotarem. They will be sold exclusively in the US market.
Both the injectables are gadolinium-based magnetic resonance imaging contrast agents that help in getting a clear picture in MRI scans.
According to the terms of the agreement, Viwit will be responsible for "ANDA submission, manufacturing and supplying" the injectables, whereas Zydus Lifesciences will "exclusively market, distribute, and sell these products", the release added.
The total addressable market for gadobutrol injection is estimated at $120 million, and for the gadoterate meglumine injection it is $117 million in the US, it further noted.
The pact with Viwit was announced by Zydus after market hours. The company's scrip settled 0.14% lower at Rs 1,118.55 apiece on the NSE, as compared to a 0.13% decline in the benchmark Nifty 50.
