KV Pharmaceutical Company to market new generic drugs in U.S. via exclusive deal with Gedeon Richter
KV Pharmaceutical Company and Gedeon Richter, Ltd. announced that KV Pharmaceutical Company has acquired exclusive rights from Gedeon Richter, Ltd. to market a broad group of generic drug products in the U.S. marketplace through KV's wholly-owned generic marketing division, ETHEX Corporation.
The products will serve the Cardiovascular, Diabetic and Central Nervous System markets, including psychotropic categories. Subject to FDA approval and patent expirations, KV expects that the products will enter the U.S. marketplace over the next several years through 2017. The estimated branded annual sales volume value of the products - based on 2005 IMS data - is approximately $20 billion. Two of the products are already filed with the FDA and a third is expected to be filed shortly.
Under terms of the agreement, Gedeon Richter will have responsibility for the development, manufacturing and regulatory requirements of the products. Gedeon Richter will receive a share of the revenues. Specific terms of the agreement were not disclosed.
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