EATONTOWN, N.J., Aug. 5, 2014 /PRNewswire/ -- Heritage Pharmaceuticals Inc. ("Heritage") has signed an Exclusive Development, Supply & Distribution Agreement with Dexcel Ltd. ("Dexcel") for an Extended Release ANDA drug product. Dexcel will be responsible for the development, registration and manufacturing of the product, and Heritage Pharmaceuticals will be responsible for marketing and distribution in the U.S. The product generates generic annual U.S. sales of approximately $60 million, per IMS Health. Financial terms of the agreement were not disclosed.
Jeffrey A. Glazer, Heritage's Vice Chairman and CEO stated, "I am pleased to expand our relationship with Dexcel for high barrier, technology driven pharmaceutical products. This agreement builds upon our platform of pipeline expansion through strategic alliance and will complement our organic product assets as we continue to offer a broad portfolio of value driven medicine to the U.S. consumer."
Heritage Pharmaceuticals Inc. is a specialty pharmaceutical company engaged in the development, manufacturing, sales and marketing of generic and legacy branded pharmaceutical products for the U.S. prescription drug market. Since inception, our customers have experienced the benefits of our continuous product expansion and global alliance network that has produced an impressive portfolio of over 150 products spanning multiple dosage forms. Heritage's products cover a number of therapeutic categories, including but not limited to: oncology, cardiovascular, metabolic disease, anti-infective and pain management. Whether its oral solids or complex injectables, the Heritage portfolio is poised to continue to rapidly expand and deliver the Value Driven Medicine required to keep our customers competitive in the marketplace.
About Dexcel Pharma
Dexcel Pharma is a private international specialty pharmaceutical group, dedicated to the development, manufacturing and commercialization of novel drug formulations and complex generics. Dexcel Pharma has a broad portfolio of branded and generic products, sold in more than 30 countries worldwide. Dexcel Pharma was established in 1968 and is headquartered in Israel.
SOURCE Heritage Pharmaceuticals Inc.