Orchid Inks Supply Pact With Apotex
For cephalosporin and other injectable products
The Chennai-based Orchid Chemicals & Pharmaceuticals Ltd today announced that it has signed a supply and marketing agreement for cephalosporin and other injectable products with the US-based Apotex Corp.
Apotex Corp, is a subsidiary of Apotex Inc, the largest Canadian-owned pharmaceutical company with a group turnover of $1 billion.
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As per the 10-year pact, Orchid will develop, manufacture and supply sterile drugs, while Apotex will handle sales and marketing efforts in the US. Apotex will also provide regulatory support to the venture as required.
Orchid will supply injectable antibiotic finished dosage forms. This is a first-of-its-kind exclusive broad-based global alliance by Apotex and by any pharma company in India.
Importantly, Orchid will file and own the abbreviated new drug applications (ANDAs) for formulation products in the marketing agreement, thus retaining product rights.
Addressing a press conference here today, K Raghavendra Rao, managing director, said the move will help Orchid unlock value at its US FDA-compliant oral and sterile formulations facility at Irungattukottai near Chennai, slated to be commissioned in a couple of months.