Torrent Pharmaceuticals has struck a licensing and supply agreement with UK-based pharma MNC AstraZeneca. Torrent Pharma becomes the second Gujarat based-pharma company to enter into such agreement.

AstraZeneca, the world's seventh-largest pharma company, announced it has entered into a licence and supply agreement with Torrent Pharma for portfolio of generic medicines, for which Torrent already has licences in a range of countries.

AstraZeneca expressed its intention to brand and market these products in many of its emerging markets, where it already has a strong footprint.

Similar to the nature of agreement between Claris and Pfizer, AstraZeneca had agreed with Torrent Pharma to have initial purchase of Torrent's licences and market authorisations for 18 products in nine countries.

The agreement allows the flexibility to add further products and new countries where AstraZeneca sees opportunities for growth. Torrent will manufacture medicines at its own facilities in India for AstraZeneca. However, the company did not disclose the financial terms of the agreements.