US pharmaceuticals major ties up with India's Orchid
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US pharmaceuticals major ties up with India's Orchid

Thursday, 27 May 2004, 07:00 Hrs
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NEW YORK: Par Pharmaceuticals Inc. of Spring Valley has entered into an agreement with Chennai-based Orchid Chemicals and Pharmaceuticals to develop and market generic drugs for the US market.

Orchid will be responsible for the development and manufacture of all products, while Par will provide regulatory affairs support and submit applications to the US Food and Drug Administration (FDA), the companies said in a statement.

Par will also get exclusive rights to market, sell and distribute the products in the US and enjoy a share of the net profits.

"This alliance will provide Par entry into a therapeutic category where we do not currently have a presence," said Scott Tarriff, the US pharma major's president and chief executive officer.

The two companies will initially collaborate on various dosage forms of seven cephalosporin antibiotics. They will also seek to identify and develop up to 10 additional non-cephalosporin products.

Orchid, which exports its drugs to around 75 companies, is among the largest manufacturers and exporter of cephalosporin in the world, the statement said.

Its manufacturing units are located at Alathur in Tamil Nadu and Aurangabad in Maharashtra, while the research and development facility is in Chennai.

The company has a joint venture with Bexel Biotechnology in the US in the area of new drug discovery and development.

Par is the principal subsidiary of New York Stock Exchange-listed Pharmaceutical Resources Inc. and develops, manufactures and markets generic pharmaceuticals.

Source: IANS
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