AstraZenca signs second deal with Indian drug firm

AstraZeneca is set to sign a second deal with an Indian generic drugmaker – this time for the supply of injectable drugs – in a further move to boost its emerging market sales.

The pharma giant is close to signing a licensing and supply agreement with Ahmedabad-based Intas Pharmaceuticals, according to people familiar with the development.

AstraZeneca struck a similar branded generics supply deal with India’s Torrent Pharmaceuticals in March and the Anglo-Swedish company said at the time other deals could follow.

Emerging markets are a priority area for Western drug companies, as sales in home markets stall and cheap off-patent medicines that can be sold in high volumes under a multinational brand name are an attractive target.

AstraZeneca expects emerging markets to account for 25 per cent of group sales by 2014, up from 13 per cent, or $4.35bn, in 2009.