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GlaxoSmithKline Pharma launches 2 cancer drugs in India

GlaxoSmithKline Pharma launches 2 cancer drugs in India
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First Published: Fri, Jul 22 2011. 03 17 PM IST
Updated: Fri, Jul 22 2011. 03 17 PM IST
Mumbai: GlaxoSmithKline Pharma , a unit of the world’s No.2 drugmaker GlaxoSmithKline , said on Friday it has launched two cancer drugs in India that will shore up its India business.
The drug ‘Revolade’ is used to increase the count of platelets in blood for cancer patients and ‘Votrient’ is indicated for renal cell carcinoma or cancer of the kidney.
The company expects the two drugs to clock sales of about Rs150-200 million each in another 5 years, Hasit Joshipura, managing director, India, told a press conference.
“While ‘Votrient’ is a drug launched in an existing cancer treatment category for ‘Revolade´ India is going to be a new market,” Joshipura said, adding that the oncology division would now contribute about 3% of the total business in India.
The oncology business is new for the drugmaker in India and does not contribute significantly to total sales as of now.
Glaxosmithkline Pharma has priced 800 mg daily dosage of Votrient at about Rs58,000 for a month-long course, while a daily dosage 25 mg of Revolade would cost about Rs27,000 every month in India.
Usually, the drugs are administered on a monthly basis before assessing their efficacy.
“While launching drugs in India we follow the tier pricing approach and these drugs are priced about 70-75% cheaper than the US prices,” Joshipura said.
The company is modernising its drug manufacturing facility at Nashik in Maharashtra. It plans to spend about Rs950 million to Rs100 crore as capex in the year ending December 2011 doubling the about Rs500 rupees last year, he added.
At 3:05 pm, shares in Glaxosmithkline Pharma, valued at about $4.4 billion, were up 0.2% to Rs2,325.10 in a firm Mumbai market.
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First Published: Fri, Jul 22 2011. 03 17 PM IST
More Topics: GlaxoSmithKline | Pharma | Cancer | Drugmaker | India |