Chennai, March 13: Ajanta Pharma Ltd has tied up with KPMG to do overseas marketing for its patented product Carofit. Addressing a press conference here while doing a road show for its IPO, chief financial officer Arvind K Agarwal said that the company did not have the required muscle power to do global marketing. KPMG would help in finding out channel partners or companies willing to licence the product so that Ajanta Pharma will be assured of royalties and percentage of sales.The company has got ten patent applications - four for extracts from natural products and six for drug delivery systems. The herbal products constitute key extraction of particular molecules having beneficial properties. Apart from beta carotene extracted from carrots, there is a product to prevent retinal degeneration (also sold ethically) and one for the liver. The company has done toxicity studies and clinical trials for all these products to allow for better acceptance overseas.
The company is also looking at acquisitionswithin the country to help get a nationwide distribution for its products. Currently it has a presence in five states. However it is not going for overseas expansions at the moment. Its investments in the Russian countries are beginning to pay off, Agarwal said.
The company is going for a public issue of 30.13 lakh shares of Rs 10 each at a premium of Rs 225 per share.
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