TOKYO and SCHAUMBURG, Ill., March 1, 2019 /PRNewswire/ -- Nichi-Iko Pharmaceutical Co., Ltd. ("Nichi-Iko") and Sagent Pharmaceuticals, Inc., a Nichi-Iko Group Company ("Sagent"), a leader of specialty pharmaceutical products with an emphasis on the injectable market, today announced that Sagent has acquired an FDA-approved manufacturing site in Raleigh, North Carolina, from Xellia Pharmaceuticals ("Xellia"). Financial terms of the transaction have not been disclosed.
The manufacturing site, which is approved for manufacturing of both small molecule and biologic products, is the first FDA-approved facility in the Nichi-Iko Group network. Sagent intends to continue manufacturing certain products for Xellia, while utilizing the site's capabilities to enhance its ability to address unmet market needs.
"The acquisition of this facility is a significant milestone in our journey to transform Sagent," said Dr. Peter Kaemmerer, Chief Executive Officer of Sagent. "In addition to complementing our historic partner-based supply model with internal manufacturing capabilities, the Raleigh site will enable production of lyophilized formulations of our future biosimilar product offerings. We look forward to welcoming the site employees into the Sagent team and contributing to the Nichi-Iko family together."
Yuichi Tamura, President and CEO of Nichi-Iko said, "We applaud this acquisition as another big step forward for Nichi-Iko and Sagent, further strengthening our competitiveness and capabilities in the key U.S. market. The acquisition of this manufacturing facility, our first in the U.S., will have an important role as we strive to fulfil our mission of providing value-added, high quality generic products which meet the needs of patients and their families in the global market."
About Nichi-Iko Pharmaceutical Co., Ltd.
Headquartered in Tokyo and Toyama Prefecture, Nichi-Iko is one of the largest generic drug manufacturers in Japan by sales. In FY2014, it became the first Japanese generic medicine manufacturer to reach JPY100 billion in annual sales, and consolidated net sales in the fiscal year ended March 31, 2018 reached JPY164.7 billion.
Since its establishment in 1965, Nichi-Iko has earned a reputation for operating at the forefront of quality assurance with premium quality generic pharmaceuticals. Its mission is to provide value-added, high quality generic products which meet the needs of patients and their families, doctors, pharmacists, wholesalers and pharmaceutical companies in the global market as one of the most respected, well established generic companies in the world. In working to fulfil this mission, Nichi-Iko seeks to earn the trust and respect of all stakeholders and to be customers' first choice.
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, Inc., a Nichi-Iko Group Company, is a specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products for the North American market, with a specific emphasis on injectables. Sagent has created a unique global network of resources, comprising rapid development capabilities, sophisticated manufacturing and innovative drug delivery technologies, resulting in an extensive and rapidly expanding pharmaceutical product portfolio that fulfills the evolving needs of patients.
SOURCE Sagent Pharmaceuticals