Both partners will bring in an initial equity capital of Rs 2 crore each and EWF Pharma will be headed by Dr Anuj Saxena.

Rottapharm which specialises in therapeutic areas like rheumatology, gynaecology, osteoporosis and cardiology will license to the new joint venture key drugs like -- Viatril (a superior osteoarthritis therapy), Triptical (for osteoporosis) and Aplaket (a cardiovascular drug) -- from its portfolio.

Both Viatril and Triptical are currently under international patents and currently account for roughly 45 per cent and 25 per cent of the Italian company's global sales, according to Rottapharm managing director Dr Luca Rovati.

Viatril is under patents upto 2010 and Rovati says that the product cannot be easily duplicated given the strong manufacturing knowhow associated with itsproduction. Rovati said that another key product set for an Indian launch was a novel transdermal patch for the treatment of symptoms associated with menopause. EWF Pharmaceuticals managing director Anuj Saxena told The Financial Express that the new company will begin with an initial strength of 90 personnel, including 86 medical representatives. The new venture is expected to be operational by June 1999.

Under the alliance, while the basic ingredient will be imported, the formulation will be done at Elder Pharmaceuticals existing facilities in India for a specific fee. Saxena, however, did not rule out setting up or acquiring a new manufacturing facility in the long term, though no specific plans are currently under review. The joint venture is targeting a sales turnover of roughly Rs 9 crore in the first eight months of operation and hopes to scale the Rs 60 crore mark within the next five years.

Other EWF prescription products likely to hit the Indian market include: Thrive, a combination ofantioxidants and minerals useful in the treatment of cardiac patients, pregnant women etc; Roxiric, a macrolide antibiotic with higher safety profile; Edge a natural product and Optiflox a new broad-spectrum anti-bacterial agent effective against bacteria and pathogens of the respiratory tract.