S. Kalyanasundaram, MD of GSK Pharma India, with Eisai vice-president Hideshi Honda in Mumbai on Thursday. (AFP)

Mumbai, May 26: GlaxoSmithkline (GSK) Pharmaceuticals Ltd has signed a co-promotion pact with Eisai Pharmaceuticals to launch Paritec in India.

Paritec, discovered by Eisai, is used to treat acid-related disorders like peptic ulcer. GSK will help distribute it in the domestic market.

Eisai Pharma is the Indian arm of Eisai Company of Japan. The subsidiary, based in Mumbai, was set up last year with a capital of Rs 10 crore. Eisai has a joint venture with Wockhardt to market its product for treating nerve disorders in diabetes patients.

Paritec, which is called Pariet in Japan and Aciphex in the US, has global sales of $1.3 billion. In India, however, the product will be subject to competition from nearly 40 generic products.

S. Kalyanasundaram, managing director of GSK Pharma India and vice-president (South Asia) of GSK International, is optimistic that Paritec will be a market leader in two to three years.

Though Glaxo hinted that Paritec may be priced higher than its Zantac, an anti-ulcer product, Kalyanasundaram said the new drug will have an affordable price tag for local customers. However, he refused to comment on the revenue-share agreement.

Kalyanasundaram said Zantac has attained maturity and the time has come to look at next generation products to treat ulcers.

Hideshi Honda, vice-president, global pharmaceuticals business, Eisai Company, said while India is a growing market, it has decided to collaborate with GSK because of its large distribution network and capability to build brands.

Deepak Naik, managing director of Eisai Pharma India, said the company plans to launch three products in the next three years. One is Aricept, a once-a-day pill for Alzheimer's disease.