Aventis Pharma, the Indian arm of French multinational drug maker Sanofi-Aventis, will sell its 49 per cent stake in vaccine manufacturing unit, Chiron Behring Vaccines, to its joint venture partner Novartis Vaccines and Diagnostics for $ 22.4 million (Rs 101 crore).
The deal between the multinational drug firms would draw curtains to a two-year-old battle in India over rights to India's largest selling anti-rabies vaccine, Rabipur. It had sales of close to Rs 118 crore two years ago with a market share of about 70 per cent. The brand belongs to Chiron Behring Vaccines. Novartis had objected to the renewal of a 10-year marketing licence to Aventis Pharma last February.Until February 2009, Aventis manufactured Rabipur at its plant in Ankleshwar in Gujarat, while Novartis Healthcare was the distributor of the vaccines in the country.
After losing the rights of Rabipur, Aventis Pharma's arm, Shanta Biotech, launched group company Sanofi Pasteur's brand Verorab in the Indian market. This was challenged by Novartis in the Bombay High Court, citing conflict of interest. The court allowed the petition and Aventis is appealing the decision. India’s anti-rabies market is estimated to have an annual size of Rs 250 crore.crackcrack
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1797.80 |
| Dr. Reddys Lab | 1213.90 |
| Cipla | 1486.30 |
| Lupin | 2069.95 |
| Zydus Lifesciences | 948.70 |
| View more.. | |
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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