The Hindu Business Line : Granules ties up with US co

Hyderabad, July 5 Granules India Ltd (GIL) and US-based Heritage Pharmaceuticals Inc announced a strategic alliance for the development, supply and marketing of generic pharmaceutical products for the US prescription drug market.

Under the agreement, the Hyderabad-based Granules will develop and register selected products for US ANDA (Abbreviated New Drug Application) submission and Heritage will retain exclusive sales and marketing rights to such products.

Granules will receive upfront and milestone payments and the parties will share net profits from the product sales, according to a company press release here today.

Commenting on the deal, Mr C. Krishna Prasad, Managing Director, Granules India, said, “This is in line with our overall strategy for partnering with prescription product marketers on a development and manufacturing agreement”.

Mr Jeffrey Glazer, President and CEO, Heritage Pharmaceuticals, added, “Our partnership with Granules represents another important milestone in Heritage’s business model of utilising strategic outsourcing for the development and manufacturing of quality generic products”.

Granules PFI (Pharmaceutical Formulation Intermediates) technology represents a significant cost advantage for a high load- high volume generic products and will provide us with unprecedented economies of scale for the products under our Agreement, he said.

Heritage Pharmaceuticals Inc. is an emerging generic pharmaceutical company engaged in the acquisition, licensing, development, marketing, sale and distribution of generic pharmaceutical products for the global prescription drug markets. The company owns 15 US ANDAs which will be launched under the Heritage label over the next fiscal year.

Granules India Ltd. is a fully integrated pharmaceutical formulations manufacturer with the world’s largest ‘granulation’ capacity.

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