INDIA – Zydus Cadila, a leading Indian Pharmaceutical company and Bayer (South East Asia), a subsidiary in Singapore that deals in distribution of prescription drugs, have decided to extend their joint venture by three years with effect from June.
The two companies first entered into the joint venture agreement ten years ago with a joint name Bayer Zydus Pharma and operated mainly from Mumbai with a business model revolving around the sales and marketing of pharmaceutical products in India and across the world.
During the previous joint venture, Bayer’s global innovative assets like Xarelto, Eylea and Visanne were launched in India.
Xarelto is a drug used to help reduce the risk of blood clots in common, Eylea is a medication used to treat eye related conditions, while Visanne is used to treat against painful symptoms of endometrial lesion better known as a wound.
Moving forward, Bayer Zydus Pharma will continue to operate in core therapies, including cardiovascular diseases, diabetes, women’s health, ophthalmology and oncology, with some other new products included into the pipeline.
According to the World Health organization (WHO), cardiovascular diseases, diabetes and cancer are the top ten killers globally with Ischaemic heart disease topping the list, diabetes coming in third and lung cancer coming in forth as an onset of respiratory infections.
With these findings, the drug market related to these conditions has been growing and is set to grow further.
The global market for cardiovascular devices reached nearly $42.4 billion in 2017 and is expected to reach $59.1 billion by 2022, at a compound annual growth rate (CAGR) of 6.9% for the period of 2017-2022.
For Diabetes, the Diabetes Care Devices Market was valued at US$ 23,354.3 million in 2018 and is projected to reach US$ 39,382.3 million by 2027 at a CAGR of 6.1% during 2020–2027.
The cancer drug market was valued at $128,352 million in 2019, and is projected to reach $222,380 million by 2027, registering a CAGR of 7.4% with new innovations in form of drugs and possibly vaccines set to come along.
This joint venture is set to tap into these three markets in an effort to improve human health around the globe with innovations set around the three highlighted growing drug markets.