Zydus Pharmaceuticals USA Inc will acquire US-based pharmaceutical company Nesher Pharmaceuticals Inc through its subsidiary Zynesher Pharmaceuticals USA LLC for an undisclosed sum.Zynesher has entered into an agreement to acquire the assets of Nesher, the company said in a statement today.Nesher operates as the generic subsidiary of KV Pharmaceutical based at St. Louis, Missouri, in the US. The financial details of the agreement are undisclosed.Nesher has considerable expertise in niche therapies which have development or production barriers, such as controlled release medications or drug enforcement administration (DEA) controlled substances."We have always looked at value-accruing opportunities and believe the new development gives us access to a difficult-to-develop product pipeline, expertise and infrastructure that will add value to our operations in the US. It also presents the right fit as it helps us strengthen our generic operations in the US with technology-distinguished specialty generics,” said Pankaj R Patel, chairman and managing director, Zydus Cadila.The broad-based assets purchase agreement includes assets and assumption of certain liabilities, Nesher’s existing and pipeline Abbreviated New Drug Application (ANDAs), certain manufacturing facilities and a full fledged research and development laboratory.With this, Zydus will now be able to manufacture and distribute generic controlled substances in the US market, which otherwise cannot be imported. The market for controlled substances medications in the US is estimated at $7 billion.Nesher has an ANDA pipeline comprising eight existing filings and five products under development. Zydus said these products resent a tremendous market potential as they belong to high growth, niche segments which have a combined estimated market size of over $ 2.1 billion.The agreement also encompasses supply and technical services agreements by which certain products of KV Pharmaceutical will be manufactured by Zynesher Pharmaceuticals USA LLC.
Superhit News
-
US health regulator USFDA has issued a warning letter to German drug firm Fresenius Kabi AG for lapses at its drug manufacturing fac... -
Goods and Service Tax (GST) is high on the agenda for the new government and its rollout is a priority. GST will benefit the Indian pharma... -
Rib-X Pharmaceuticals, Inc. announced today the signature of an exclusive worldwide research collaboration agreement and option for license ...
-
Physiomics: Reports difficult trading but highlights growing interest from big pharmaceutical groupsPhysiomics ( LON:PYC ) said that trading conditions were difficult in the six months ended 31 December 2010, but it believes it is in a be...
-
Hindusthan National Glass and Industries Ltd is expected to finalize a strategic overseas acquisition in the pharmaceuticals space in the n...
-
The Minister of State (Health and Family Welfare), Sh Ashwini Kumar Choubey through a written reply in the Lok Sabha informed about th... -
The government is hoping to see the implementation of the track and trace system for domestic and export supply chain in another one y... -
India's Central Drugs Standard Control Organization (CDSCO) has suspended the manufacturing of eye drops at the Chennai-based firm after... -
Diclofenac injection is a painkiller which is manufactured by Themis Medicare Ltd and marketed by Novartis India under the brand name ... -
Amylin Pharmaceuticals, Inc. AMLN +16.15% and Alkermes plc ALKS +4.61% today announced that the U.S. Food and Drug Administration (FDA) has ...
No comments:
Post a Comment