New Delhi: Cipla has added one more big name to its list of global supply contracts.
According to sources, the $10 billion German drug maker, Boehringer Ingelheim has tied up with Cipla for a development and supply pact for its hypertension drug, Telmisartan.
It has been learnt that negotiations for the deal had been going on for at least six months.
Analysts say that the deal has already been signed and it is around $670 million in global sales and €190 million in European sales.
Telmisartan is a hypertensive drug on which Boehringer is very aggressive. The deal has been signed to develop the formulation of the drug.
When the formulation will be developed, Cipla will supply it to Boehringer for regulated markets.
The formulation drug will be for other cardiac drugs like Simvastatin and Ramipril as well. Therefore, Cipla's mandate is to pack the drug; make combinations of that drug and then sell it to Boehringer, when it reaches that level of manufacturing.
It is a long-term contract for Cipla. The drug has grown over 40 per cent, hence it has got high potential.
If Boehringer uses the same franchise as Telmisartan for its combination, which will be coming out of Cipla's pipeline, then the potential of the drug will be high.
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