Caplin Point enters into a pact with Cycle Pharma

NEW DELHI: Domestic drug firm Caplin Point Laboratories has entered into a licence and distribution pact with UK-based Cycle Pharmaceuticals under which the Indian firm will develop and make certain products.

The ANDA and marketing rights of the products for the US market will be with the Cycle Pharma.

"A licence and distribution agreement has been made and entered by and between Caplin Point Laboratories Ltd India and Cycle Pharmaceuticals Ltd, a Ltd Company having its principal offices at Cambridge, UK," Caplin said in a filing to the BSE.

Under the pact, the Indian firm will be responsible for developing and manufacturing identified liquid injectable products, whereas Cycle Pharmaceuticals will hold this abbreviated new drug application (ANDA) and commercialise the same in USA, it added.

"This is a product specific agreement for United States of America. Currently one product is featuring in the contract," Chennai-based Caplin said.

The company has received milestone payment for one product and the product development cum dossier preparation have just commenced, it added.

Cycle Pharmaceuticals is a niche global firm with sharp focus on key geographies like the US and Europe.

Caplin's scrip closed at Rs 1,239.75, down 4.49 per cent, on the BSE.