Akorn, Inc. and FDC Limited Announce Signing of Purchase and Supply Agreement

22-Jul-2004

Akorn, Inc. and FDC Limited (FDC), India's second largest manufacturer and marketer of ophthalmic pharmaceutical products, announced the signing of a Purchase and Supply Agreement. The Agreement will provide Akorn with an ophthalmic finished dosage form product pipeline for exclusive use in the United States and Canada. The ophthalmic products will be developed and manufactured for Akorn by FDC. Akorn will be responsible for U.S. FDA regulatory submissions and will market the products directly in the United States. Innova, Akorn's distributor for ophthalmic products, will be responsible for the direct marketing of these products in Canada.

Currently, FDC exports active pharmaceutical ingredients to over 45 countries, including the United States and Canada, and holds drug master files and registration in both countries. Products will be manufactured in India, and FDC is intending to submit approximately four to six ANDA's in the first year of the Agreement.

Arthur S. Przybyl, president and chief executive officer of Akorn stated, "We are excited to enter into this Purchase and Supply Agreement with FDC. FDC's expertise in active pharmaceutical ingredients, formulations and manufacturing of finished dosage forms for ophthalmic pharmaceutical products combined with Akorn's sales and marketing capabilities of ophthalmic products create a natural synergy between our two companies. Several products have been targeted for development and U.S. launch. We look forward to a long- standing and successful relationship."

Przybyl added, "This Agreement represents a continuation of Akorn's new business development strategy designed to increase Akorn's product offering to our customers."

FDC's Director Nandan M. Chandavarkar said, "We are confident that FDC's strengths in manufacturing and Akorn's marketing capabilities will combine well to bring high-quality eye care alternatives to patients in the United States and Canada."

https://www.bionity.com/en/news/38662/akorn-inc-and-fdc-limited-announce-signing-of-purchase-and-supply-agreement.html