Alpharma Announces Agreement with Indian Firm Shasun to Develop and Manufacture Generic Prescription and API Products
Under the agreement, Shasun will develop active pharmaceutical ingredients and final formulations, and manufacture finished products for exclusive sale by Alpharma worldwide. Alpharma will take responsibility for the regulatory filings and will own all intangible assets developed by the partnership. During the period of exclusive sales by Alpharma, the two companies will share profits and Alpharma will reimburse Shasun for certain development and manufacturing costs.
Ten products with global brand sales exceeding $20 billion are initially planned under this agreement, but additional products may be added over time. Product launches are scheduled to begin in 2007.
"Industry data suggests that manufacturing costs for Indian pharmaceutical companies are more than 50% below U.S. and European multi-national companies, and drug development costs are a fraction of U.S. costs," said Ingrid Wiik, Alpharma Vice Chairman, President and Chief Executive Officer.
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