Draxis Health Lines Up With Mylan For Drug Marketing

Canadian company Draxis Health has entered into an agreement withleading US generics drugmaker Mylan Laboratories to market the latter's pharmaceuticals in Canada.

Apart from saying that the two companies will share profits on sales, no details of the deal are disclosed, and neither is any indication given of which products will be involved. However, an article in the Toronto Financial Post quotes Draxis chief executive Martin Barkin as saying he wants those that fit its focus on neurology, dermatology, radiopharmaceuticals and veterinary drugs.

There is a twist to the tale, according to the FP, as the deal will mean that Mylan products will compete in the Canadian generics sector with those of Canadian firms, such as Novopharm and Apotex. It notes that Novopharm holds a 4% stake in Draxis and its chief executive, Leslie Dan, sits on the Draxis board and Mr Barkin on that of Novopharm.