RPG Life inks long term API partnership with Polpharma

RPG Life inks long term API partnership with Polpharma
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First Published: Thu, Oct 21 2010. 07 58 PM IST
Updated: Thu, Oct 21 2010. 07 58 PM IST
Mumbai: RPG Life Sciences Ltd, the pharma and biotechnology company of the Rs17000 crore RPG group, has signed a strategic partnership deal with the Polish multinational, Polpharma S A, to jointly develop and market a wide range of active pharmaceutical ingredients (APIs) for the global markets.
Under this co-operation agreement, Polpharma, which is the largest API manufacturer in the Central and Eastern Europe, and RPG Life will also cross-source APIs from their respective portfolios for catering to their formulation markets apart from collaborating for research in the API space. RPG Life, which was growth stagnant for the last several years, has also shown significant boost in sales and profits in the last two subsequent quarters after it initiated a major turn-around strategy.
“It is integral to our growth strategy of rapid new product introductions,” said mmanaging director, RPG Life Sciences, in an interview on Thursday. He added that with the experience and reach of Polpharma and RPG, this partnership would be a key growth driver for the future and complementary to both the companies.
Polpharma’ s operations chief Theodore Iliopoulos said in a statement “This deal was essential for the company’s new strategic direction, which will see accelerated new product introductions, lowering the costs and unlocking additional efficiencies among others.”
RPG Life Sciences said on Thursday that it posted 22% growth in sales in the July-August quarter at Rs50.66 crore as against Rs41.43 crore a year ago. The company posted a total sale of Rs160 crore in the 2009-10 fiscal. RPG Life Sciences shares dropped 2.57% on Bombay Stock Exchange to close at Rs 104.20 a unit on Thursday.
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First Published: Thu, Oct 21 2010. 07 58 PM IST