The pact between Cipla Europe (CE) NV, the company's wholly owned arm, and BioQuiddity Inc will cover countries in Europe, the company said in a statement.
Pharmaceutical firm Cipla today announced a partnership with US-based BioQuiddity Inc for collaboration to sell the latter's post-surgical pain management product OneDose ReadyfusORTM in Europe.
The pact between Cipla Europe (CE) NV, the company's wholly owned arm, and BioQuiddity Inc will cover countries in Europe, the company said in a statement.
The Indian firm intends to launch the CE marked OneDose ReadyfusOR pre-filled with Ropivacaine under its own label into the German market late this year, it added.
"Cipla believes that this post-surgical pain product candidate presents a unique opportunity to provide an easy to use, well-tolerated, and efficient regional anesthesia system that could make savings for healthcare providers and patients," Cipla Europe Head Frank Pieters said.
BioQuiddity President and CEO Joshua Kriesel said: "Cipla's strong commercial record puts them in an outstanding position to detail the OneDose ReadyfusOR's safety, sterility, and ease of use value proposition objectives.
Also read: FDA raises concern over drug production process at Cadila
Cipla stock price
On July 31, 2014, Cipla closed at Rs 456.30, up Rs 8.60, or 1.92 percent. The 52-week high of the share was Rs 462.65 and the 52-week low was Rs 366.70.
The company's trailing 12-month (TTM) EPS was at Rs 17.29 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 26.39. The latest book value of the company is Rs 127.76 per share. At current value, the price-to-book value of the company is 3.57.
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