Updated on 21 November 2014
Both companies will have equal share of profits
Singapore: The Europen subsidiary of India's second largest drugmaker Cipla has inked a distribution pact with Serum Institute of India, securing legal rights for marketing and distribution of Serum's vaccine across European markets.
Initially, the companies are planning to begin pediatric vaccines distribution which will then be extended to adult vaccines for pneumonia, flu and human papillomavirus (HPV) for cervical cancer for women.
Mr Adar Poonawala, CEO and executive director, Serum Institute of India, said, "We are planning to manufacture and develop the pediatric vaccine. In future we also plan to extend this to adult vaccines."
As per the current agreement, while Serum Institute will develop and manufacture pediatric vaccines, Cipla will seek approval from the European Medicines Agency and market the products in Europe.
Mr Michel Baijot, head of vaccines, Cipla, said in a press release,"This is an alliance of two leaders in their respective fields to focus their efforts on alternate solutions for healthcare authorities in Europe on immunization programs."