Cipla In Sourcing Deal With Novartis
India's Cipla Ltd has entered into a sourcing arrangement with US-basedGeneva Pharmaceuticals, a unit of the Swiss drug company Novartis. The deal covers a range of generic drugs, reports India's Financial Express.
Geneva will source a range of products scheduled to go off patent, as well as the requisite technologies from Cipla, and market it overseas. A royalty will be paid for transfer of technological know-how.
The newspaper quoted an official of Novartis as saying the sourcing deal does not involve any equity partnership. "There is no alliance in place between Geneva and Cipla," the official added.
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