Lupin inks deal to market US firm Salix's drugs in Canada

Domestic pharmaceutical company Lupin, said it inked an exclusive deal to market some of US firm Salix Pharmaceuticals' products in Canada to expand its footprint in that region.

Salix will get an upfront payment from Lupin, which is the country's fourth-largest drugmaker by sales, and is entitled to additional payments contingent on meeting some sales milestones, the Mumbai-based company said in a statement.

The domestic drug firm, whose largest market is the United States, has the option to sell other gastroenterology products in Salix's pipeline after approval by Candian regulators.

The deal includes Salix's Relistor injection for the treatment of opioid-induced constipation, and Zaxine for use in adults to help reduce risk of recurrence of overt hepatic encephalopathy - a disorder that causes worsening of brain function.

Lupin's shares closed 2.93 per cent higher at Rs 1359.25 per scrip at the Bombay Stock Exchange (BSE) on Friday.

(Reuters)

*An earlier version of the story gave the impression that Lupin was entitled to an upfront payment from Salix.