Akorn, Inc. and Natco Pharma Limited Add Two Injectable Drug Products To API Supply and Margin Sharing Agreement
02 Novembro 2006 - 11:01AM
Business Wire
Akorn, Inc. (AMEX: AKN) today announced that it has added two
injectable drug products to its API Supply and Margin Sharing
Agreement with Natco Pharma Limited (NSE: NATCOPHARM)(BSE: 524816).
The two ANDA drug products are indicated for the prevention of
nausea and vomiting associated with cancer chemotherapy, and have a
combined current market size of approximately $360 million. Under
the API Supply and Margin Sharing Agreement that was in signed
April 2006, Natco will be responsible for the supply of active
pharmaceutical ingredients for both drug products, while Akorn will
be responsible for the manufacturing, regulatory submissions,
marketing and distribution in the hospital, clinic, and home
healthcare markets in the United States and Canada. Arthur S.
Przybyl, Akorn�s President and Chief Executive Officer stated, �We
are excited to expand our business partnership with Natco Pharma.
These two products will provide an excellent fit with our oncology
product pipeline.� Rejeev Nannapaneni, Natco Pharma�s Chief
Operating Officer stated, �We are happy�to take our cooperation to
four projects now. This deal structure will enhance business
opportunities in an increasingly competitive environment.� About
Akorn, Inc. Akorn, Inc. manufactures and markets sterile specialty
pharmaceuticals. Akorn has manufacturing facilities located in
Decatur, Illinois and Somerset, New Jersey and markets and
distributes an extensive line of hospital and ophthalmic
pharmaceuticals. Additional information is available at the
Company�s website at www.akorn.com. About Natco Pharma Limited
Natco Pharma Limited is an integrated pharmaceutical company based
out of Hyderabad, Andhra Pradesh, India. Natco has four
manufacturing facilities in and around Hyderabad. Among these, a
large API facility and a finished dosage pharmaceutical
formulations facility are approved by the U.S. FDA. Natco also has
an independent Research Centre located at Hyderabad which supports
its manufacturing facilities. Additional information is available
at the Company�s website at www.natcopharma.co.in. Materials in
this press release may contain information that includes or is
based upon forward-looking statements within the meaning of the
Securities Litigation Reform Act of 1995. Forward-looking
statements give our expectations or forecasts of future events. You
can identify these statements by the fact that they do not relate
strictly to historical or current facts. They use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with a discussion of future operating or financial
performance. In particular, these include statements relating to
future steps we may take, prospective products, future performance
or results of current and anticipated products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings,
and financial results. Any or all of our forward-looking statements
here or in other publications may turn out to be wrong. They can be
affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining
our actual future results. Consequently, no forward-looking
statement can be guaranteed. Our actual results may vary
materially, and there are not guarantees about the performance of
our stock. Any forward-looking statements represent our
expectations or forecasts only as of the date they were made and
should not be relied upon as representing our expectations or
forecasts as of any subsequent date. We undertake no obligation to
correct or update any forward-looking statements, whether as a
result of new information, future events or otherwise, even if our
expectations or forecasts change. You are advised, however, to
consult any further disclosures we make on related subjects in our
reports filed with the SEC. In particular, you should read the
discussion in the section entitled "Cautionary Statement Regarding
Forward-Looking Statements" in our most recent Annual Report on
Form 10-K, as it may be updated in subsequent reports filed with
the SEC. That discussion covers certain risks, uncertainties and
possibly inaccurate assumptions that could cause our actual results
to differ materially from expected and historical results. Other
factors besides those listed there could also adversely affect our
results. Akorn, Inc. (AMEX: AKN) today announced that it has added
two injectable drug products to its API Supply and Margin Sharing
Agreement with Natco Pharma Limited (NSE: NATCOPHARM)(BSE: 524816).
The two ANDA drug products are indicated for the prevention of
nausea and vomiting associated with cancer chemotherapy, and have a
combined current market size of approximately $360 million. Under
the API Supply and Margin Sharing Agreement that was in signed
April 2006, Natco will be responsible for the supply of active
pharmaceutical ingredients for both drug products, while Akorn will
be responsible for the manufacturing, regulatory submissions,
marketing and distribution in the hospital, clinic, and home
healthcare markets in the United States and Canada. Arthur S.
Przybyl, Akorn's President and Chief Executive Officer stated, "We
are excited to expand our business partnership with Natco Pharma.
These two products will provide an excellent fit with our oncology
product pipeline." Rejeev Nannapaneni, Natco Pharma's Chief
Operating Officer stated, "We are happy to take our cooperation to
four projects now. This deal structure will enhance business
opportunities in an increasingly competitive environment." About
Akorn, Inc. Akorn, Inc. manufactures and markets sterile specialty
pharmaceuticals. Akorn has manufacturing facilities located in
Decatur, Illinois and Somerset, New Jersey and markets and
distributes an extensive line of hospital and ophthalmic
pharmaceuticals. Additional information is available at the
Company's website at www.akorn.com. About Natco Pharma Limited
Natco Pharma Limited is an integrated pharmaceutical company based
out of Hyderabad, Andhra Pradesh, India. Natco has four
manufacturing facilities in and around Hyderabad. Among these, a
large API facility and a finished dosage pharmaceutical
formulations facility are approved by the U.S. FDA. Natco also has
an independent Research Centre located at Hyderabad which supports
its manufacturing facilities. Additional information is available
at the Company's website at www.natcopharma.co.in. Materials in
this press release may contain information that includes or is
based upon forward-looking statements within the meaning of the
Securities Litigation Reform Act of 1995. Forward-looking
statements give our expectations or forecasts of future events. You
can identify these statements by the fact that they do not relate
strictly to historical or current facts. They use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with a discussion of future operating or financial
performance. In particular, these include statements relating to
future steps we may take, prospective products, future performance
or results of current and anticipated products, sales efforts,
expenses, the outcome of contingencies such as legal proceedings,
and financial results. Any or all of our forward-looking statements
here or in other publications may turn out to be wrong. They can be
affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining
our actual future results. Consequently, no forward-looking
statement can be guaranteed. Our actual results may vary
materially, and there are not guarantees about the performance of
our stock. Any forward-looking statements represent our
expectations or forecasts only as of the date they were made and
should not be relied upon as representing our expectations or
forecasts as of any subsequent date. We undertake no obligation to
correct or update any forward-looking statements, whether as a
result of new information, future events or otherwise, even if our
expectations or forecasts change. You are advised, however, to
consult any further disclosures we make on related subjects in our
reports filed with the SEC. In particular, you should read the
discussion in the section entitled "Cautionary Statement Regarding
Forward-Looking Statements" in our most recent Annual Report on
Form 10-K, as it may be updated in subsequent reports filed with
the SEC. That discussion covers certain risks, uncertainties and
possibly inaccurate assumptions that could cause our actual results
to differ materially from expected and historical results. Other
factors besides those listed there could also adversely affect our
results.
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