AstraZeneca Pharma India has got an extension from its parent firm AstraZeneca UK to sell anti-bacterial drug Meronem in India for the next six months.
"AstraZeneca Pharma India Ltd has received on December 01, 2016 a notice to extend the date of distribution arrangements for Meronem up to July 31, 2017, during which time the parties shall continue to act in accordance with the terms and conditions of the agreement,"the company said in a BSE filing.
It further added: "The extension is due to the delay in the divestment of AstraZeneca's global rights to Meronem." Meronem is anti-bacterial used for the treatment of serious infections in hospitalised patients.
In August this year, AstraZeneca Pharma India had said that it will stop selling anti-bacterial drug Meronem in India following a global deal by its parent AstraZeneca UK to sell its small molecule antibiotics business to Pfizer Inc.
The company had received a notice of termination from AstraZeneca UK conveying its decision for termination of distribution arrangements for Meronem in India.
The product is currently one of the company's principal products which generated 18 per cent total turnover of the firm in fiscal ended March 31, 2016.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
