Heritage and Ipca Enter Into Strategic Alliance for Generic Pharmaceutical Products
Posted on: Monday, 27 August 2007, 06:15 CDT
EDISON, N.J., Aug. 27 /PRNewswire/ -- Heritage Pharmaceuticals Inc. ("Heritage") and Ipca Laboratories Ltd. ("Ipca") announced today that they have entered in to a strategic alliance for the development, supply and marketing of generic pharmaceutical products for the U.S. prescription drug market. Under the Agreement, Ipca shall develop and register selected products for U.S. ANDA submission and Heritage retains sales and marketing rights to such products. The parties shall share net profits from the sales proceeds post-launch.
Commenting on the Agreement, Heritage President & CEO, Jeffrey Glazer, stated, "Our agreement with Ipca represents yet another important strategic partnership with an emerging, low cost developer and supplier of active ingredients and finished goods. These types of agreements enable Heritage to leverage our business model of strategic outsourcing to obtain a "virtually vertical" supply chain of quality generic products as we continue to expand our product offerings."
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. Heritage launched its U.S. label in 2006 and currently markets 3 products over 10 SKU's. The Company will continue to introduce its acquired multi-source generic product line during 2007-08 following its tradition of premier quality, value and service in generics.
Ipca Laboratories Ltd. is a fast growing fully integrated pharmaceutical company based in Mumbai, India engaged in the manufacturing and marketing of a range of pharmaceuticals with a thrust on international business. Ipca exports its Active Pharmaceutical Ingredients and Finished Dosages to over 110 countries across the globe, which contributed about 53% of the Company's total global income of $227mm in the financial year 2006-07. It has a strong focus on international business in the developed markets like Europe and North America.
Heritage Pharmaceuticals Inc.
CONTACT: Jeffrey A. Glazer, President & CEO of Heritage PharmaceuticalsInc., +1-866-901-1230, info@heritagepharma.com
Web site: http://www.heritagepharma.com/
Source: PRNewswire
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