Emerging UK pharmaceutical group Syntropharma has bagged its first major deal signing up generic drug giant Ranbaxy Pharmaceuticals to sell one of its development products in the US.

Under the terms of the deal, Ranbaxy - a subsidiary of India’s Ranbaxy Laboratories - has taken on responsibility for the marketing and distribution of one of Syntropharma’s candidates (as yet undisclosed) in the US, as well as responsibility for regulatory affairs and approval of the product’s file with the Food and Drug Administration.

Syntropharma is focused on improving the clinical profile of medicines by reformulating them for administration via a skin patch, and says it hopes to churn out a stream of first- and second-to-market transdermal products that it will farm out to pharmaceutical partners.

According to the UK group’s board, the deal, which could potentially generate revenues of more than $37.5 million for the firm, is the first of many on the horizon over the next three years, which should all serve to boost shareholder value.

Commenting on the partnership, Syntropharma head Andrew Gardiner said the company is “pleased to have signed this deal with Ranbaxy”, and added that the group’s primary commercial goal for 2010 will be to hook up with a suitable licensing partner for the product in Europe.

Explaining Ranbaxy’s interest in the collaboration, Joseph Todisco, the firm’s vice president of business development, said the product “will add depth and breadth to Ranbaxy’s product portfolio of affordable and accessible generic products marketed in the US”, and that it also “fits well with Ranbaxy’s overall strategy to increase its presence in the US market for high barrier to entry dosage forms”.