Drug firms Boehringer Ingelheim and Lupin have entered into a partnership to co-market Empagliflozin used for treatment of type 2 diabetes in India.
According to the agreement, "Lupin will market and sell Empagliflozin under a separate brand name Gibtulio which will be promoted by Lupin's specialty field force," the companies said in a joint statement.
Boehringer Ingelheim will continue to sell Empagliflozin under the brand name Jardiance through their existing sales force and network, it added.
The companies, however, did not provide the financial details of the agreement.
The two companies had earlier signed a partnership for co-marketing Linagliptin in October 2015. The inclusion of Empagliflozin is a significant addition to the partnership, the statement said.
Commenting on the development, Lupin India Regions Formulations Group President Shakti Chakraborty said: "We are happy to expand our partnership with Boehringer Ingelheim to combat growing menance of diabetes in India." The Indian diabetes market is valued at Rs 9,003 crore, growing at 19.5 per cent as per IMS MAT July 2016, the statement said.
"This partnership shows our commitment towards addressing challenges in diabetes management in India by providing broader access to innovative medicine," Boehringer Ingelheim India Managing Director Sharad Tyagi said.
Boehringer Ingelheim India will continue to introduce innovative products to address the unmet patients' needs amidst the growing Indian diabetes epidemic, he added.
Shares of Lupin Ltd today closed at Rs 1,480.40 per scrip on BSE, down 2.36 per cent from the previous close.
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