Australia's Phosphagenics ($POH) is looking to tap the Indian market, inking a deal with Intas Pharmaceuticals to produce and sell anti-aging products there. The three APIs, developed by Phosphagenics for the Indian market, use the company's patented targeted penetration matrix platform, a needle-free topical that delivers active ingredients through the skin.
Under the deal, Intas will pay an undisclosed royalty to market the products in India. The Indian firm is the 12th largest pharmaceutical company in the country and has grown by 35% over the past four years, in part because of similar deals with AstraZeneca ($AZN) and U.S. devicemaker Insightra Medical.
The agreement could be a foot in the door for Phosphagenics to increase adoption of its platform around the world. Currently, the company has pipeline projects that use the transdermal system to deliver insulin, anti-inflammatory drugs lidocaine and Voltaren, an acne treatment, and oxycodone. The company has a pre-licensing deal with Japanese firm Nippon Zoki for the Voltaren application, and Phosphagenics has been working with 3M to get an oxycodone patch on the market worldwide.
Phosphagenics CEO Esra Ogru said the deal presents another chance for the company to expand its market share in the personal care industry. If the three products are successful in India's 1.2 billion-person market, Phosphagenics will likely launch a full dermatological line there, she said. "Our cosmetic lines are gathering momentum internationally, and this latest agreement follows on from our arrangement to sell products in the Asian region through the AS Watson and Company chain," Ogru said in a statement.
- read Phosphagenics' release
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