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Rediff News  All News  » Business » Alpharma to sell Orchid drugs in US

Alpharma to sell Orchid drugs in US

February 24, 2005 14:17 IST
Orchid Chemicals and Pharmaceuticals Ltd has entered into an exclusive agreement with Alpharma Inc for marketing its select non-antibiotic generic formulations in the US and Europe.

Under the agreement, Orchid will develop and make 10 non-antibiotic formulations in specific dosage forms and strengths for distribution and marketing by Alpharma in Europe and the US, the Chennai-based company informed the Bombay Stock Exchange on Thursday.

The 10 oral formulations fall under speciality, chronic therapeutic segments such as cardio vascular and central nervous systems categories, with a current market size of $10 billion, it said.

The company would commence supply of these products, once they go off patent, progressively from 2007 based on its regulatory filings and approvals, it added.

Alpharma would also provide development funding to the company for the products based on milestones while the net profits arising from marketing would be shared between both the partners.

Besides, the 10 non-cephalosporin products to be taken up for development this year there is an opportunity to add further products progressively in subsequent years.

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