Business Daily from THE HINDU group of publications
Friday, Dec 08, 2006
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Business Daily from THE HINDU group of publications Friday, Dec 08, 2006 ePaper |
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Marketing
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New Products & Services Akorn-Strides to expand product portfolio Our Bureau
Bangalore , Dec. 7 Strides Arcolab and its US partner Akorn have added 10 injectable products to their joint venture portfolio. This takes their tally of products for joint funding, development and commercialisation to 29, Akorn-Strides, LLC, Strides announced on Thursday. They have already filed 15 ANDAs or abbreviated new drug application so far and will submit two more by the end of 2006. "The additional funding provided to the joint venture will expand the Akorn-Strides, LLC to 29 ANDAs for a total of 53 SKUs or product line offerings. The joint venture expects to generate revenues in 2007 based on initial product approvals and subsequent product launches," the release said. The joint entity created in 2005 is developing liquid, lyophilised and dry powder fill generic injectable products targeting several therapeutic markets with a major focus on anti-infectives, pain relievers and medicine for problems of the central nervous system. The Bangalore-based Strides develops the products for the US market and Akorn handles the regulatory aspects, filings and exclusive marketing of USFDA-approved drugs in the US. Akorn Inc is a sterile specialty pharmaceuticals major. Its President and CEO, Mr Arthur S. Przybyl, who is also the Member Manager of Akorn-Strides, LLC, said, "Akorn has been filing regulatory submissions for the joint venture at a rate of approximately two per month. Expanding the joint venture product portfolio will only help to generate greater revenues and market presence." Mr Arun Kumar, Executive Vice-Chairman and Managing Director of Strides and Member Manager of Akorn-Strides, LLC, said the joint venture would emerge as a key provider of quality sterile products in North America.
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