Bangalore-based pharmaceutical company, Strides Arcolab has signed a definitive agreement with Accu-Break Pharmaceuticals to set up a joint venture company (JVC) to develop generic drugs using patent pending Accu-Break technologies. | |
| According to Arun Kumar, vice-chairman and group CEO of Strides Arcolab, this JVC will be accomplished through a new company to be named 'Accu-Strides', a 50:50 joint venture. |
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| "It is anticipated that the JVC will outsource from the company an exclusive product pipeline of generic and ANDA (abbreviated new drug applications) products in finished dosage forms," he added. |
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| The product dossiers developed for the JVC by Strides Arcolab will be owned exclusively by the JVC. |
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| Accu-Break Pharmaceuticals is a privately held company engaged in bio-equivalent product development. |
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| The JVC will also outsource from Accu-Break Pharmaceuticals sales, marketing and distribution capabilities for the North American markets while the JVC will provide sales, marketing and distribution capabilities for the rest of the world. |
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| Accu-Break tablets are designed for maximal dose accuracy when split, as well as for ease of breaking and to provide an optimal dosage for the millions of patients who split tablets. |
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| Lawarence Solomon, chairman and CEO of Accu-Break Pharmaceuticals stated that Accu-Break tablets are 'simply better' because they are made to be broken or taken intact. |
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| Presently, Strides Arcolab has 14 manufacturing plants globally including an FDA approved plant in Bangalore, where the Accu-Break products will be manufactured. |
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| It is expected that the products using the Accu-Break technologies will be developed for regulatory submission worldwide beginning in financial year (FY) 2007. |
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| "The Accu-Break-Strides joint venture is a true reflection of the 'Strides Value' partnership model. Using niche manufacturing and product development skill sets, Strides will ramp-up the product pipeline to leverage various Accu-Break technologies to create a global specialty generic pharmaceutical company. We will work towards creating critical mass for the JVC and significant value to all stakeholders," said Arun Kumar. |
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