NEW DELHI, INDIA--(Marketwire - June 30, 2011) -
Bausch + Lomb, the global eye health company, today announced plans to launch a pharmaceutical business in India through a strategic agreement with Micro Labs, a leading provider of quality healthcare products. The partnership will provide Bausch + Lomb with high-quality manufacturing capabilities in the region that will speed the introduction of new prescription and over-the-counter medicines targeted at a wide range of eye diseases.
Through the agreement with Micro Labs, Bausch + Lomb aims to capture part of the rapidly expanding ophthalmic pharmaceuticals market in India which is expected to reach US$300 million by 2015. In addition to gaining access to world class manufacturing capabilities, Bausch + Lomb will establish dedicated sales and marketing teams, and deliver practitioner and patient education programs designed to improve the quality of, and access to, eye care.
"With as many as 76% of patients suffering from eye disease in India going untreated, Bausch + Lomb believes this is a critical time to enter the market with medicines and education designed to improve patient outcomes and overall quality of life," said Mr. Dan Wechsler, corporate vice president and global president, Bausch + Lomb Pharmaceuticals. "Today ophthalmic pharmaceuticals represent the fastest-growing segment of our business globally, and our collaboration with Micro Labs will enable us to enter one of the world's most vibrant yet underserved markets in the world with high-quality and dependable products that may help people see and live better."
The companies will introduce up to six new pharmaceuticals eye drops including Moxisurge™, Aquasurge™, Aquasurge Max™, Bromvue™, Ketovue™ and Moxisurge-KT™. Furthermore, the companies have also agreed to explore other areas of possible collaboration including:
- Sourcing of Ophthalmic Solution products from Micro Labs to be marketed and sold by Bausch + Lomb in India and other markets in Asia Pacific.
- Collaboration between the companies with respect to manufacturing technology for the production of eye drops.
- Joint research & development of Ophthalmic Pharmaceutical products specifically for emerging markets.
"It gives us immense pleasure to partner with Bausch + Lomb, the most powerful brand in eye health as they enter into the Pharmaceutical segment in India," said Mr. Anand Surana, director, Micro Labs, India. "Our collaboration demonstrates that pharmaceutical manufacturing in India has come of age and our products meet the most stringent global quality standards."
Bausch + Lomb began commercial operations in India in 1992 with its contact lens and solutions business before expanding into eye-related surgery products in 1996. Today Bausch + Lomb is the market leader for lenses and solutions in India and one of the fastest growing multinational corporations in Surgical Ophthalmology in the region.
"Bausch + Lomb is committed to improving the quality of eye care in India, and to helping doctors grow their practices and expand the range of offerings they provide," said Harish Natarajan, managing director, Bausch + Lomb India. "Our collaboration with Micro Labs will help us do both quickly and with quality."
About Bausch + Lomb
Bausch + Lomb is one of the best-known and most respected healthcare companies in the world. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. Founded in 1853, the company is headquartered in Rochester, N.Y., and employs more than 10,000 people worldwide. Its products are available in more than 100 countries. More information is available at www.bausch.com.
About Micro Labs Limited
Micro Labs Limited was established in the year 1973, with an objective of providing quality healthcare products at an affordable cost. It has a strong presence in the domestic market in Cardiology, Diabetology, Neuropsychiatry, Dermatology, Ophthalmology, Antimicrobial Therapy and pain management. Micro Labs has recently entered the Nephrology segment. Micro Labs has four overseas offices, and has invested in creating five subsidiaries in the International markets (UK, Philippines, Nigeria, South Africa & Mexico).
The group has presence in over 60 countries, exporting all major dosages in every therapeutic segment. Being one of the leading Indian healthcare providers in India, Micro Labs aims to be a prominent pharmaceutical player in both regulated and non-regulated markets across the globe. The R & D team is comprised of 200 scientists, pharmacists, analysts, chemists and microbiologists engaged in product & analytical development. R&D centre is an integrated set up with three research centres.
Moxisurge™, Aquasurge™, Aquasurge Max™, Bromvue™, Ketovue™ and Moxisurge-KT™ are registered trademarks of Bausch & Lomb, Inc.