Daiichi Sankyo Venezuela, which has already started the promotion, would begin marketing Ranbaxy products.
Ranbaxy has been marketing its drugs in Venezuela through a local distributor.
With the deal, Daiichi Sankyo is expected to focus on Ranbaxy’s portfolio of medicines to promote the Hybrid Business Model.
Under the hybrid business model, Ranbaxy primarily focuses on generic medicine research both for itself and its parent firm, while the new drug discovery program is undertaken taken up by Daiichi Sankyo.