Indian drug maker and prominent company in the pharma sector, Biocon Limited, has tied up with a Japanese drug firm, Eisai Pharma, to market their anti-ulcer drug, rabeprazole, in India. The Japanese company, Eisai Pharma, has terminated its prior co-marketing agreement with the Indian pharma company, GSK, which was marketing the brands of Eisai since 2005.
As part of its metabolic products portfolio, Biocon has planned to market the two rabeprazole brands.
As per the data available with All India Organisation of Chemists and Druggists, the market size for the two brands is nearly Rs 950 cr, in India. Biocon's stock touched its intraday high of Rs 1161.8 per share, up by Rs 25 per share or 2.2%. Other healthcare stocks are trading flat on Wednesday. The BSE Healthcare index is trading flat at 15328 levels.