Company Watch

Lilly gives Distaclor marketing rights to Pharmalink

Our News Bureau - Mumbai

Eli Lilly has announced the divestiture of its premier antibiotic brand, Distaclor (Cefaclor) to Pharmalink, a subsidiary of the Quintiles International, effective from July 1, 2007 for an undisclosed sum. Lilly has been marketing Distaclor in India since 1993, achieving success in building the Distaclor brand as one of its flagship products. Speaking on the occasion, Sandeep Gupta, Chairman and Managing Director of Indian Operations, Eli Lilly, said, "The divestiture happens at a time when we are looking to consolidate our foot prints in the area of diabetes, oncology, critical care and bone health and growth." He added, "This divestiture is completely aligned with our global strategy of introducing new and innovative products from Lilly's strong research pipeline." Pharmalink, the buyer of the Distaclor brand, is a global player in contract research and sales. Akshaya Nath, Executive Director, Pharmalink India, said, "We are delighted to get a premium brand with a solid market reputation such as Distaclor. This fits in neatly into our strategy in India that of building and marketing our own suite of attractive brands."