Tie-up on cards for Biolight & Sun Pharma?
Sources say Sun Pharma could be one of the companies that Biolight is actively talking to. However, Sun Pharma in a statement to CNBC-TV18 says, “We have no immediate plans to work with them on any collaboration project.” ARCHANA SHUKLA Reporter,
India Business Hour 09:00 pm One of Dilip Shangvi's early personal investments seems to be coming of age. Israeli drug maker Biolight Pharma, in which Shangvi holds a significant stake, is preparing to enter the Indian market.
So could an alignment between the Israeli company and Sun Pharma be on the cards? Archana Shukla reports. Its a mid-sized Israeli pharma company that specialises in cancer diagnostics and ophthalmology products. But even before it makes its entry in the Indian market, Biolight Lifesciences already has a deep connect with India. Pharma czar Dilip Shanghvi, founder of the country's most valuable pharma company Sun Pharma, holds over 21 percent in Biolight, an investment made in his personal capacity.
The Israeli company is now preparing for a commercial entry in India by launching two of its flagship products - a cervical cancer detection device, and a surgery device for glaucoma.
As the company waits for approvals from the Indian drug regulator, it is also actively seeking out local partnerships for a smooth passage to the Indian market. Also read: 2014: Blockbuster year for Sun Pharma's Dilip Shanghvi Suzana Nahum Zilberberg, CEO, Biolight Lifesciences Investments says, “It can be a distributor that has their wide sales force that actually can offer these products to the hospitals or to the laboratories and it can also be a pharmaceutical company that has very strong commercial activities in the market. Currently we are working with two distributors in India to launch the product but we are also in discussions with pharmaceutical companies for wider collaboration.” Sources say Sun Pharma could be one of the companies that Biolight is actively talking to. However, Sun Pharma in a statement to CNBC-TV18 says, “We have no immediate plans to work with them on any collaboration project.” Interestingly, Sun Pharma has a strong presence in ophthalmology, and Biolight's glaucoma product could add strength to sun's existing product portfolio. While a near term collaboration may not be on the cards, one must remember that Shanghvi has had a very clear rationale behind all his investments. As the man himself says, most of his personal investments in start-ups have been made with a view to assist Sun Pharma in the long run. Dilip Shanghvi, MD, Sun Pharmaceuticals had last year said that business needs to be strategically linked to the Sun’s future. There may be product sharing.
There has to be some potential benefit for Sun but not in the immediate future. As Biolight prepares for its India splash, it already looking at the next step which will include local manufacturing. The market will be keenly watching to see if the Israeli company can get 'sun' to shine on these future plans.
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