Press Releases

Date: January 31, 2003
Mumbai

Nicholas Piramal to market Minrad's new generation inhalation anesthetics in 10 countries

In a move that will make the company a significant player in inhalation anesthetics across key emerging markets, Nicholas Piramal India Ltd. (NPIL) today announced that it had entered into an agreement with the U.S.-based Minrad Inc. for the exclusive distribution and marketing of a new generation of inhalation anesthetic products.

The products, Isoflurane, Enflurane and Sevoflurane, will be marketed exclusively by NPIL through dedicated distributors and marketing agents across each market -- Russia, Ukraine, Nigeria, Kenya, Sudan, Syria, Jordan, Iran, Egypt, & Bangladesh. NPIL will also market these products in the domestic market, starting with Isoflurane.

MINRAD believes that once they are at full-capacity, their patented process will make them the lowest-cost producer of Sevoflurane. The three products are manufactured by the company at a dedicated facility in Bethlehem, Pennsylvania, U.S.A. Minrad Inc. is the only global player besides Abbot Laboratories and Baxter Healthcare to offer these three products under one roof.

NPIL had earlier acquired the rights to Halothane (the only other major inhalation anesthetic globally) when it took over ICI Ltd's Indian pharma business in 2002. The agreement with Minrad Inc. now completes NPIL's portfolio of inhalation anesthetics.

"The agreement with Minrad Inc. positions NPIL uniquely. We have already created a strong niche for Halothane across most of these markets and have strong marketing and distribution networks in place. NPIL is now one of the very few that can offer all the four key inhalation anesthetics. This gives us a unique penetration opportunity that we can leverage well in the emerging markets," said Mr. Vijay Shah, Chief Operating Officer, NPIL.

NPIL is the leading player in the anesthetics market in India with its product Fluothane (Halothane). The company's Carex division, which markets the Fluothane brand, has a turnover of about Rs. 250 million, with a field force of 45. The Carex division also markets Haemaccel, the market leader in plasma volume expanders in India.

About Nicholas Piramal India Ltd.

Nicholas Piramal India Limited (NPIL) is among India's largest Pharmaceutical & Healthcare Companies. With a unique mix of inorganic and organic growth fuelled through a strategy of acquisitions, brand building and focused selling, and manufacturing, NPIL has a turnover of Rs. 9464.8 million (2001-02). NPIL is among the leaders in the Cardio-vascular, Antibiotics and Respiratory segments of the Indian market. It is also a player to reckon with in Pain management, Neuro-psychiatry and Anti-Diabetics.

Managed by a team of highly proficient industry professionals, NPIL's has a strong and consistent record in successfully and ethically managing JVs / Alliances and Partnerships with global pharma majors.

Its policy of respecting IPR and managing partnerships, in keeping with both the letter and the spirit of written agreements, has been widely respected and commended by its partners.