LYNDHURST, N.J., Sept. 26, 2013 /PRNewswire/ -- Amerigen Pharmaceuticals Ltd. today announced its Chinese subsidiary, Suzhou Amerigen Pharmaceuticals Co., Ltd., had entered into a marketing and distribution agreement with Sinochem Jiangsu Pharmaceutical Co., Ltd. regarding Amerigen's generic mecobalamin 0.5mg immediate release tablets. Under the terms of the agreement, Amerigen will manufacture the product at its US FDA approved and China CFDA certified finished solid dose facility in Suzhou, China. Sinochem is granted exclusive sales and distribution rights to the product in the People's Republic of China in exchange for undisclosed payments to Amerigen. The first commercial shipments of the product, which will be sold under Suzhou Amerigen's label, are expected in mid-2014. In addition, the parties will seek any regulatory approvals required for the commercialization of the product in China under the terms of the new collaboration arrangement.
John Lowry, Amerigen's President & CEO, commented: "This agreement is a continuation of our strategy to bring high quality and locally manufactured generic products to the rapidly growing Chinese market by leveraging Amerigen's FDA and CFDA licensed manufacturing facility in Suzhou. Our collaboration with Sinochem enables expedited market entry through the sales expertise of a highly reputable and leading Chinese pharmaceutical company."
Mr. Ziqiang Wu, General Manager of Sinochem Pharma, stated: "Sinochem Pharma, the key subsidiary of Sinochem Group – one of the largest companies in the China 'Fortune 500', is pleased to cooperate with Amerigen, a renowned pharmaceutical company in China which has passed on-site inspections by the US FDA and China CFDA. We will commit to work together, realize complementary advantages and promote drug products of high quality manufactured by Amerigen in the Chinese market through our joint efforts. The mecobalamin tablet project is just the beginning of the cooperation between our two companies, and we will discuss further business collaborations in the future."
Amerigen Pharmaceuticals is a group of companies engaged in all phases of the generic pharmaceutical business, with operations in the US and China. The group is controlled by Amerigen Pharmaceuticals Limited. The US regulatory and commercial activities within the group are conducted by Amerigen Pharmaceuticals Inc., based in Lyndhurst, NJ, USA. The group's Chinese subsidiary, Suzhou Amerigen Pharmaceuticals Co., Ltd., is located in Suzhou, Jiangsu Province. The group has an active portfolio of products under development, filed, or intended for filing, as ANDA's with the US FDA and the Chinese CFDA. Amerigen's focus is orally delivered products that are challenging to develop, require specialized technologies or high containment to manufacture, and present complex regulatory and intellectual property obstacles to bring to market. All Amerigen's products are developed and manufactured by the company or its partners around the world to meet the highest quality standards, including the US FDA.
SOURCE Amerigen Pharmaceuticals