NEW DELHI: Ozone Pharmaceuticals on Wednesday said it has entered into a marketing pact with Japan-based Koboyashi Pharmaceuticals to strengthen its presence in the pain management segment in the country.
As part of the agreement, Ozone will launch Koboyashi's air activated heat packs under the brand name "DFO Care" in the Indian market.
"We have entered into an original exclusive manufacturer (OEM) agreement with Koboyashi under which we will get the product from Japan and market it in India," Ozone Group Chairman and Managing Director SC Sehgal told PTI.
Currently the company sells pharmaceutical products such as DFO gel and Axbex.
Commenting on the pact, Ozone Pharmaceuticals CEO A K Sahoo said: "In the initial phase the agreement is for two years in which we will market the brand on import license. The product will be called DFO Care as it will complement our brand equity".
The launch will augment our pain management segment in which we are the second largest brand in the country, he added.
The company, however, subsequently plans to manufacture and market the product within the country and in non-regulated markets outside.
"Subsequently a Joint Venture (JV) will be formed between the two companies. We intend having the complete management rights in India. We plan to have stake of up to 60 per cent in the joint venture. It is wiser for them and wiser for us," Sehgal said.
Under the JV, Ozone will get technology transfer from Japan to India and will manufacture and market the heat packs in the country.
"Koboyashi will retain the intellectual property rights (IPR) for the product and Ozone will have the manufacturing and marketing rights for India," Sahoo said.
The company is looking for annual revenue of up to Rs 10 crore from the product, he added.
The company claims the air active heat packs provide heat up to 12 hours to relieve aches and are easy and convenient to use as they can be used even under clothing.
The company's 'No Marks' brand has been in the market since 2001. It is also present in various therapeutic areas, including cardiology, diabetes and gynaecology.
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