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Our Bureau

Mumbai , Nov. 8

MUMBAI-based drug company Cipla Ltd is set to formalise a deal with Akorn Inc for the development and supply of a generic anti-infective drug.

Cipla top brass confirmed the development, but no details were available on the drug or the financials involved. The deal is to be signed in 90 days.

Meanwhile, news agency reports quoting a statement from the Illinois-based Akorn said the generic anti-infective drug developed by Cipla would be supplied in hospitals in the US and had an estimated market size of about $100 million.

While Cipla will develop and produce the drug, Akorn will handle the regulatory issues and the clinical development, the news report quoting Akorn said.

Cipla will be paid a fee on reaching certain milestones in the development of the drug, but Akorn will have the exclusive marketing rights for the drug in the US, the report said.

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